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
Hoa Phat Group has sent an official document to authorized agencies registering to replace Taiwanese investor Guang Lian Steel Vietnam Company and continue developing a half-done steel project in Dung Quat Economic Zone, the central province of Quang Ngai. The management board of Dung Quat Economic Zone has asked and waited for ministries and agencies’ opinions about the proposal of Hoa Phat. The Quang Ngai People’s Committee revoked the investment certificate of the project for sluggish progress in June this year. The certificate was granted by the Ministry of Planning and Investment in 2006. From 2006 to 2016, Guang Lian…... [read more]
Stainless steel, plastic importers face higher tariffs Van Nam By Van Nam - The Saigon Times Daily HCMC – The Ministry of Finance has said it will increase import tariffs on a number of stainless steel products from 0% to 10% and some polyester plastic items to 5% from the current 0-3% in a bid to protect local producers. According to a document seeking comments from ministries and agencies on the planned tax adjustments posted in the ministry’s website, the hikes will protect the local industry and cope with import trade fraud. Vietnam imports stainless steel strings and bars with…... [read more]
Stainless steel product maker SonHa International Corporation (HOSE: SHI) is issuing 10 million new shares to raise the liquidity of its stock. Of the 10 million shares to be issued, SHI is selling 6 million to existing shareholders and the rest to strategic partners. "This increase in the holding of financial investors will help raise the liquidity of SHI shares," deputy director Dam Quang Hung said. SHI shares currently have very low liquidity, because large shareholders have bought up 70.7 per cent of the 26.7 million shares listed on the bourse. As a result, SHI's stock value is way below…... [read more]
Hoang Phi Local firms have reacted after VCA posted initial findings about cold-rolled stainless steel on its website on Tuesday and proposed the Ministry of Industry and Trade to impose tax rates of 6.45-30.73%, as covered in the Daily on Wednesday. The case started in May when Posco VST and Hoa Binh Inox, two big local stainless steel producers, filed lawsuits and asked authorities to impose anti-dumping duties on cold-rolled stainless steel imported from China, Taiwan, Malaysia and Indonesia. VCA decided to investigate the case and stainless steel users in Vietnam also started to send petitions to the Ministry of…... [read more]
Son Ha Group has exported 2,000 tones of stainless steel pipe valued at VND 145 billion during the first half of this year, according to Harry Lee, International Sale Manager for Son Ha Products Exports. The Sale Manager said that the US is its current major export market and that consumes 95 per cent of the group’s stainless steel pipe exports. At present, Son Ha is the Vietnamese single stainless steel producer that can export its pipes to foreign markets. Reportedly, Son Ha is improving its production capacities and drawing schemes to enter EU and ASEAN markets in the time…... [read more]
