In 2029, Hoa Phat will produce rail steel for the High-speed Railway Project.
According to Hoa Phat Group's plan, the Iron and Steel Complex will go into commercial operation in 2029 and the product (railway) will serve the High-speed Railway Project.
According to the Phu Yen Economic Zone Management Board, Hoa Phat Group is proposing to invest in 3 projects including: Hoa Tam Industrial Park Infrastructure Investment and Construction Project (Phase 1) with an area of 491 hectares and an investment capital of about VND4,381 billion; Bai Goc Port Project with an area of about 527 hectares and an investment capital of about VND24,000 billion; and the Iron and Steel Complex Project in Hoa Tam Industrial Park with an investment capital of about VND86,000 billion.
According to Hoa Phat Group's plan, the Iron and Steel Complex will go into commercial operation in 2029 and the rail products will serve the High-speed Railway project.
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| Perspective of Hoa Phat steel complex in Bai Goc, Phu Yen. |
Previously, Hoa Phat said that the expected product structure of this Complex focuses on high-quality steel lines serving mechanical engineering such as rail steel, steel plates, structural steel, shaped steel, and smooth round bar steel (SBQ).
When the site is ready, Hoa Phat can be ready to implement the project of producing steel rails for high-speed railways, in terms of technology, human resources and production location.
As the only Vietnamese steel manufacturer capable of producing high-tech steel, Hoa Phat Chairman affirmed that this enterprise ensures investment in equipment and technology transfer to produce the best and highest quality rail steel like what Europe is producing.
It is known that G7 partners providing technological equipment for Hoa Phat such as Danieli, SMS... all hold the world's leading position in the production of rail steel in Europe and Asia.
Currently, the South Phu Yen Economic Zone and industrial parks of Phu Yen province have attracted 121 investment projects, with a total registered land area of over 371 hectares, a total registered investment capital of over VND 7,562 billion and USD 44.2 million. The total realized investment capital is VND 5,093 billion and USD 63.54 million.
Of these, 85 projects are in operation, 4 projects are temporarily suspended, and 32 projects are under investment.
The projects are mainly operating in the following industries: seafood processing for export, wood processing for export, fertilizer production, electronic components production, garment export, pharmaceutical production, beer production and some other industries.
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