Hoa Phat’s construction steel sales surge 30 percent in four months hinh anh 1Steel production at a mill of Hoa Phat corporation (Photo: VNA)

Hanoi (VNA) – The sales of Hoa Phat construction steel grew nearly 30 percent year on year to 933,626 tonnes in the first for months of the year.

Hoa Phat Group, a major industrial group in Vietnam, said that it shipped nearly 95,000 tonnes of steel overseas during the January-April period, up 22 percent from the same time in 2018.

According to Do Minh Quy, Director of Hoa Phat Group’s branch in Ho Chi Minh City, the sales increased particularly in the civil construction area as the group was able to give better supply to the market.

Thanks to the completion of the construction steel production line at the Hoa Phat Dung Quat Iron and Steel Production Complex, the sales of steel in the southern region was 3.5 times higher than the amount recorded in the same time last year.

In April, Hoa Phat Dung Quat port welcomed the first foreign ship, BBC Switzerland, which carried technological equipment for the construction of the QSP rolling mill at the complex.

Hoa Phat Dung Quat complex is designed to have a total of 11 ports, able to handle up to 32 million tonnes of goods each year.

Hoa Phat plans to produce some 3.3 million tonnes of construction steel in 2019.

Last year, it shipped 240,000 tonnes of steel abroad, up 50.97 percent against the previous year.

Never before had the group received such large orders from its traditional markets – including Japan, the US, Cambodia, and Malaysia – like it did in 2018. The strongest growth was seen in Japan, with total steel orders increasing 20 times to over 58,500 tonnes, followed by Cambodia at a 246 percent increase and Malaysia with a rise of 202 percent.

Cambodia was the largest customer of Hoa Phat in 2018 with nearly 70,000 tonnes, and will continue to be a market with great potential for Hoa Phat steel as the neighbouring country’s steel industry has not yet developed, while demand is high for the construction of high-rise buildings.–VNA