The Quang Ngai provincial People’s Committee has announced the Hòa Phát railway and special steel production project with a total investment of 14 trillion VND. The project was approved for investment in July 2025. The site clearance will be done in two phases: phase 1 (11.2 hectares) in November 2025, and phase 2 (3.6 hectares) in June 2026. The official groundbreaking is expected on December 19, 2025. The local government has announced the land recovery of about 14.79 hectares. Hòa Phát has also signed a contract with SMS Group (Germany) for steel rail production technology, with an expected total capacity of 700,000 tons/year. The first products are anticipated to be completed in the first quarter of 2027, aiming to meet domestic demand and reduce imports. By September 2025, Hòa Phát had achieved a revenue of 111.031 trillion VND, a 5% increase, and a post-tax profit of 11.626 trillion VND, a 26% increase from the previous year.
Leave a Reply