Hoa Phat exports more than 30,000 tons of steel in February

In the month, the group produced 163,500 tons of steel. It sold nearly 50,000 tons in three days, from February 21-23, 15,000 tons of which were shipped to the US.

As the group aims to produce 2.3 million tons and export 250,000 tons in 2018, it will optimize production at its plants, especially the Hoa Phat Integrated Complex in Kinh Mon district, Hai Duong province, while pushing the construction of the Hoa Phat Dung Quat iron and steel production complex in Quang Ngai province.

Hoa Phat Group, a major industrial group in Vietnam, exports 30,800 tons of steel in February. Photo: thephoaphat.org

Hoa Phat Group said it hopes to earn more than VND 100 trillion (USD 4.4 billion) in revenue by 2020, the year the Hoa Phat Dung Quat iron and steel production complex is expected to become fully operational.

In 2017, the group earned VND 46.8 trillion (USD 2.05 billion), up 38 percent from 2016, and hit a record post-tax profit of VND  8 trillion (USD 351 million), surpassing its target by 33 percent, up 21 percent year on year.

Over the past ten years, subsidiaries of HPG have contributed more than VND 20 trillion (USD 878 million) to the State budget, equivalent to the amount of the central province of Quang Nam, one of the nation’s top 10 contributing provinces.

Source: VNA