Hanoi (VNA) – Hoa Phat Group (HPG) expects to hand over apartments of the Mandarin Garden 2 to buyers at the end of this year.

Mandarin Garden 2 covers an area of nearly 13,000 sq.m  with four buildings of between 17 and 30 storeys.  The 1.5 trillion VND (66 million USD) project has 640 apartments.

In the first half of this year, HPG earned more than 21 trillion VND (924 million USD) and posted after-tax profit of 1.53 trillion VND (67.3 million USD), up 36 percent and 14 percent year-on-year, respectively.

The group’s performance during the reviewed period was mainly driven by construction steel and steel pipes.

It produced more than 1 million tonnes of construction steel, representing a year-on-year rise of 33 percent against the same period last year, completing more than half of the yearly target.

Since the beginning of this year, HPG exported about 90,000 tonnes of construction steel to such markets as the US, Australia, Malaysia, Singapore, Cambodia, Laos and the Philippines.

Between January-June, the group delivered 273,000 tonnes of steel pipes to the market, raising its market share to 26.57 percent. It is striving to produce 1 million tonnes of steel pipes by 2020.

Apart from its stable growth in interior, refrigeration sector and spare parts, HPG reaped achievements in cattle feed production, pig  and cow farming, which contributed about 1 trillion VND to the group’s turnover in the first half.

At the same time, the group is accelerating the implementation of the Hoa Phat Dung Quat Steel Complex which is designed to have an annual capacity of 4 million tonnes. -VNA