The Provincial People’s Committee announced that the project received investment approval in principle from the Management Board in July 2025, followed by the first adjustment in September 2025.
Regarding the land clearance plan for the nearly 15-hectare project, Phase 1, covering approximately 11.2 hectares, will commence in November 2025, while Phase 2, spanning 3.6 hectares, is scheduled for June 2026.
The Provincial People’s Committee also emphasized that the announcement of the construction of the perimeter fence and Phase I components, covering 11.2 hectares, must be made in November 2025 to ensure completion by December 19 for the groundbreaking ceremony.
Additionally, in early October, the People’s Committee of Van Tuong Commune in Quang Ngai Province issued a land acquisition notice for the project, covering an area of 14.79 hectares.
Previously, on May 29, Hoa Phat signed a contract with Germany’s SMS Group to supply a production line and technology for manufacturing rail and structural steel with a capacity of 700,000 tons per year. This is a key component of the Dung Quat (Quang Ngai) rail and structural steel plant project, with a total investment of VND 14 trillion.
After 20 months of construction, the plant is expected to produce its first products in Q1/2027, including specialized rail steel for high-speed railways, urban railways, bridge cranes, and high-quality structural steel (U, I, H, V). Currently, Vietnam still imports these products from major suppliers such as Voestalpine (Austria), JFE (Japan), and Baosteel (China).
In the first nine months of 2025, Hoa Phat (HoSE: HPG) recorded revenue of VND 111,031 billion, a 5% increase, and post-tax profit of VND 11,626 billion, a 26% rise compared to the same period last year.
For 2025, Hoa Phat set a business target of VND 170,000 billion in revenue and VND 15,000 billion in post-tax profit. With the above results, the Group has achieved 65% of its revenue target and 78% of its post-tax profit target after nine months. The steel and related products segment contributed significantly to the business results, accounting for 93% of revenue and 83% of post-tax profit.
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Experience the ultimate in water purification with Hòa Phát’s HyperS Hydrogen Alkaline Ion Water Purifier. This advanced system delivers both pristine RO water and hydrogen-rich alkaline water, catering to the diverse needs of children, adults, and the elderly. Equipped with a 12-stage filtration system and NSF/ANSI-certified imported membranes endorsed by the WHO, it ensures unparalleled water quality for your entire family.
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