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Hoa Phat Vietnam’s Domestic Market Share Surges to 32%

Steel News - Published on Thu, 17 Sep 2020

Image Source: Hoa Phat
VNA reported that Vietnamese steelmaker Hoa Phat Group posted strong growth in the first eight months of this year, raising its market share to 32 percent as of late August. The group produced 3.2 million tonnes of steel in the January-August period, including over 2.1 million tonnes of finished products, a year-on-year increase of 18.3 percent. The result was attributable to stable production at the Hoa Phat Dung Quat complex in the central province of Quang Ngai since 2018.

In 2017, a year after the completion of Phase 3 of the Hoa Phat Hai Duong steel and iron production complex, the steelmaker’s market share rose to 22.2 percent, becoming the largest supplier for the first time.

Investment in the Dung Quat complex totalled 60 trillion VND (2.58 billion USD), with a designed capacity of some 5 million tonnes per year.

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Posted By : Yogender Pancholi on Thu, 17 Sep 2020
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