Hoa Phat Steel Production Expansion Strategy
In line with the government's double-digit growth target, Hoa Phat continues to expand investments, especially in high-quality steel production. The company will invest 120 trillion DONG ($4.7 billion) in the Bai Gok port and the Dak Lak metallurgical complex between 2025 and 2030.
The metallurgical complex has a total capacity of six million tons per year, divided into two phases. Phase 1 with an annual capacity of three million tons will be implemented from the end of 2025. Upon completion, Hoa Phat's annual steel production capacity will reach 22 million tons, further strengthening Vietnam's position in the global steel industry.
Meanwhile, the Bai Gok port project is also divided into two phases with a total investment of about 24,000 billion DONG ($940 million). The project's infrastructure will include 13 specialized berths with a capacity of up to 250,000 tons of deadweight, six berths for general cargo with a capacity of up to 50,000 tons of deadweight, six berths for liquid/gas with a capacity of up to 50,000 tons of deadweight, and one berth for inland waterways. By 2030, the Bai Gok port will process 26 million tons of goods per year, directly supporting the industrial ecosystem around the Hoa Tam Industrial Park, including oil refining, metallurgy and energy.
