The railway rail and special steel production project by Hòa Phát Dung Quất Joint Stock Company has been approved with a total investment of 10 trillion VND over an area of nearly 15 hectares, with a capacity of 700,000 tons/year. The project is expected to be completed by Q3 2028 and will operate for 50 years. Hòa Phát is preparing raw materials from domestic mines and the Roper Valley mine in Australia. Technology will be provided by SMS Group, with the first products expected in Q1 2027. Additionally, Hòa Phát has started the first phase of the Hòa Tâm Industrial Park in Phu Yen, covering 492 hectares, aiming for a capacity of 6 million tons/year, projected to create jobs for over 24,000 people. Hòa Phát has also developed Bãi Gốc port to support logistics for this industrial park, indicating a determination to expand steel production in Vietnam. Revenue for Q2 2025 reached 36 trillion VND, showing growth compared to last year.
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