Hoa Phat Group, a major industrial group in Vietnam, announced that it exported 30,800 tonnes of steel to the US, Australia and Asian countries in February.

 

In the month, the group produced 163,500 tonnes of steel. It sold nearly 50,000 tonnes in three days, from February 21-23, 15,000 tonnes of which were shipped to the US.

 

As the group aims to produce 2.3 million tonnes and export 250,000 tonnes in 2018, it will optimise production at its plants, especially the Hoa Phat Integrated Complex in Kinh Mon district, Hai Duong province, while pushing the construction of the Hoa Phat Dung Quat iron and steel production complex in Quang Ngai province.

 

Hoa Phat Group said it hopes to earn more than 100 trillion VND (4.4 billion USD) in revenue by 2020, the year the Hoa Phat Dung Quat iron and steel production complex is expected to become fully operational.

 

In 2017, the group earned 46.8 trillion VND (2.05 billion USD), up 38 percent from 2016, and hit a record post-tax profit of 8 trillion VND (351 million USD), surpassing its target by 33 percent, up 21 percent year on year.

 

Over the past ten years, subsidiaries of ​the group have contributed more than 20 trillion VND (878 million USD) to the State budget, equivalent to the amount of the central province of Quang Nam, one of the nation’s top 10 contributing provinces.-VNA