Vietnam's Hoa Phat targets 18 million t/y crude steel capacity by '27

Hoa Phat Group (HPG), already Vietnam's largest steel producer, intends to lift crude steel production capacity to 18 million tonnes/year by 2027 from 16 million t/y currently, with the increase coming from upgrades to existing facilities and a new 700,000-t/y electric arc furnace.

The target, disclosed by Pham Thi Kim Oanh, the company's chief financial officer during a recent investor briefing, is also predicated on the company's newly operational Dung Quat Steel Integrated Complex 2 in Quang Ngai province, central Vietnam, continuing to bed down smoothly. The Dung Quat Complex 2 has been