Vietnamplus

Hoa Phat Group produced over 6 million tonnes of crude steel in the first nine months of the year, matching its output from last year.

Hoa Phat Group has reported that it sold nearly 4 million tonnes of steel in the first half of 2022, up 6% compared to the same period last year.

Many insiders believe that 2022 will be a promising year for the steel industry when the pandemic is brought under control and construction demand rebounds strongly.

Vietnam’s largest steelmaker Hoa Phat Group has announced that it contributed over 6.3 trillion VND (about 276 million USD) to the State budget in the first seven months of the year, posting a year-on-year jump of 94 percent.

The Hoa Phat Group has surpassed Hung Nghiep Formosa Ha Tinh to become Vietnam’s largest steel producer after it produced 2 million tonnes of crude steel in the first quarter of this year, a 60 percent increase year-on-year.

The Hoa Phat Group, Vietnam’s leading steel producer, produced more than 670,000 tonnes of crude steel in January, its highest output to date and representing an annual growth of 67 percent.

Despite the impact of COVID-19, the Hoa Phat Group still recorded a surge in both revenue and profit in 2020, the inter-sectoral conglomerate has said.

Hoa Phat Group, a multi-sectoral conglomerate, reported after-tax profit at over 7.5 trillion VND in 2019, up 13 percent from its target.