Steel corporation records stable growth (Source: VNA)
Hanoi (VNA) - The Vietnam Steel Corporation (VNSteel) has achieved stable growth in the first six months of this year, completing 53-68 percent of the corporation’s yearly targets.

The information was reported by VNSteel’s Vice Director General Trinh Nguyen Khoi at a review conference in Hanoi on July 8.

The corporation and its members manufactured 983,000 tonnes of billet, up 22 percent year-on-year, and sold an estimated 314,000 tonnes, an increase of 7 percent against the same period last year.

Meanwhile, the production of construction steel hit 1,608,000 tonnes, a 23-percent year-on-year rise, with 1,623,000 tonnes sold, up 23 percent.

VNSteel estimates that its total turnover during this period was 577 billion VND, while pre-tax profit was over 105 billion VND.

VNSteel will take more measures to reduce production costs and the price of its products, aiming to improve its competitiveness and effectuate capital use, Khoi said.

He added that the corporation will also accelerate restructuring and divestment in ten of its subsidiaries, while promoting investment preparation in several members including the Southern Steel Company , Phu My Plate Steel , Nha Be Steel and Phuong Nam Steel Sheet.-VNA