Hoa Phat Group (HPG) has signed a memorandum of understanding with Phu Yen to research the investment of 3 strategic projects with a total investment of $5 billion (120 trillion VND). These projects include Hòa Tâm Industrial Park (13.3 trillion VND), Bai Goc Port (24 trillion VND), and the Hoa Phat Steel Integrated Complex (86 trillion VND). When completed, these projects will create jobs for 20,000 workers and contribute around 10 trillion VND to the budget. HPG has also established 3 subsidiaries for these projects. The Hòa Tâm Industrial Park is expected to invest 4.47 trillion VND for phase 1 over an area of 491.87 hectares and is scheduled for execution in 4 years. Bai Goc Port will have an area of 156 hectares and 13 docks, according to the national seaport development plan. The Hoa Phat Steel Integrated Complex is projected to have a capacity of 6 million tons of steel per year and will be carried out in 36 months. Additionally, HPG will commence construction of a railway track and special steel factory in April.
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