Hoa Phat and Danieli cooperated to research the first stainless steel production project in Vietnam

Hoa Phat and Danieli cooperated to research the first stainless steel production project in Vietnam

The project is being researched, feasible and optimal selection of production technology. According to Ms. Wang Ngoc Linh, Deputy Director of Hoa Phat Dung Quat Steel JSC, the project has a capacity of 600,000 tons per year and can increase capacity to 1 million tons per year. Hoa Phat Dung Quat Steel Corporation (Dung Quat Economic Zone, Quang Ngai Province) in order to make use of available infrastructure and improve the value chain of steel products.

According to preliminary research, China's stainless steel industry is worth $ 39 billion and is expected to double by 2025. In 2017, Vietnam is importing about 560,000 tons of stainless steel products, an increase of 10 percent. % compared to 2016, of which imported mainly hot rolled coil, cold rolled stainless steel with 500,000 tons, serving for industrial production, engineering and consumer goods in the country. Demand for stainless steel products is increasing, while Vietnam only imports raw materials for processing without any factories.