11:30 | 07/11/2017 Economy
HoaSen Group held an inauguration ceremony for the first phase of its Hoa Sen Nhon Hoi Binh Dinh plant and commenced construction of the second phase of the plant at the Nhon Hoi Economic Zone in Quy Nhon city, Binh Dinh province on October 28.
|Delegates visit the first phase of the Hoa Sen Nhơn Hoi Binh Dinh plant|
HoaSenNhon Hoi BinhDinh is the 11th plant of HoaSen Group throughout Vietnam and is the largest plant of its kind in the Central region.
The plant covers approximately 21.3 ha and costs roughly VND2 trillion (US$88 million). The project includes two phases in which the first phase commenced in early 2016 and has been completed.
The first phase of the plant composes of three production lines manufacturing galvanized steel, colour coating and cold rolled steel products with a total capacity of 325,000 tonnes per year.
The second phase of the plant is scheduled to include five production lines and to begin operations in late 2018. Upon the completion of the plant, it is expected to create jobs for 1,000 people.
Hoa Sen Chairman of the Board of Directors Le Phuoc Vu said that the plant will quickly meet the domestic demand for steel products in Central and Central Highlands provinces while exporting to Laos, Cambodia, Thailand, European and American countries.
Vu noted that the continuous expansion of production systems of the group has helped Hoa Sen products to enter 70 countries and territories. He added that the group would promote its exports to potential markets in India, Europe and America.