Hoa Phat partners with Italian group to produce stainless steel

Hoa Phat  Dung Quat Steel JSC of Hoa Phat Group is coordinating with Italian group to produce stainless steel (Illustrative image. Source VNA) Quang Ngai (VNA) – Hoa Phat DungQuat Steel JSC of Hoa Phat Group is coordinating with Italy’s Danieli –one of the world’s largest suppliers of metallurgical equipment to consider aproject on stainless steel (inox) production.According to Deputy Director of the Hoa PhatDung Quat Steel JSC Vuong Ngoc Linh, the project is designed with a capacity of600,000 tonnes per year, which could be increased to one million tonnes perannum, and will be the first modern stainless steel manufacturing plant inVietnam.The plant will be located at the Hoa Phat DungQuat iron and steel production complex area in Dung Quat Economic Zone in centralQuang Ngai province to make use of the available infrastructure. Theproject, which will be completed by 2020, aims to increase the value chain ofsteel products, and reduce imports and dependence on foreign markets.Preliminary statistics showed that Vietnamimported about 560,000 tonnes of stainless steel products in 2017, up 10percent against the previous year, in service of industrial production,mechanics, and consumer products.-VNA

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