The VND2.3 trillion (US$108 million) project, invested by the Hoa Sen Group, consists of 12 steel pipe production lines with a total design capacity of 100,000 tonnes a year, a colour-coated tole production line with a capacity of 100,000 tonnes per year, and a chain of cold rolling mills of 400,000 tonnes per year, among others.
It is expected that the three phases of the project will be completed by August 2018, creating jobs for about 500 local workers and contributing significantly to the local budget and socio-economic development of the North-Central provinces.
The facility will also improve the group’s production capacity of steel products to meet the local market demand and increase exports to Southeast Asian countries.
At present, Hoa Sen Group makes up nearly 40% market share of tole and more than 20% market share of steel pipes in Vietnam, providing its products via 130 branches across the nation. Its products have been exported to over 40 countries and territories around the world.
Also at the ceremony, NA Chairman Hung presented the Labour Medal, second class to Le Phuoc Vu, Chairman of the Board of Directors of Hoa Sen Lotus, for his outstanding achievements in leadership and business activities, and contribution to national development.
Hoa Sen Group also awarded scholarships and gifts to needy students in Nghe An’s Anh Son district.
