The Hanoitimes - The new plant of the Hoa Sen Group is identified as an important step to enter the market of plastic and steel in the northern region.
Hoa Sen Group held a groundbreaking ceremony for the construction of the Ha Nam Hoa Sen plant at the cluster of Kien Khe I industrial parks in Thanh Khe district in the northern province of Ha Nam on March 17.
The plant covering an area of 20.4ha has the total investment of about 3,000 billion VND. The factory is scheduled to start its operetion in 2017.
Once completed in September 2018, the facility is expected to produce steel pipes, galvanized steel tube, and uPVC and HDPE plastic pipes.
At the ground-beaking ceremony.
Addressing the ceremony, Hoa Sen's Chairman of the Managing Board Le Phuoc Vu said the new plant is part of the group's key projects aimed at increasing the capicity to provide goods and plastic pipe steel pipe for the northern market, as well as remaining the first of the country's sheet and steel market.
At present, Hoa Sen Group holds nearly 40% of steel sheet market shares and nearly 20% of steel pipe market shares in Vietnam and its products are exported to more than 60 countries and territories across the world.
Hoa Sen Group has been the first Vietnamese business that shipped 20,000 tons of steel sheets to the US market in February, 2016.
The plant will be invested modern technological lines including 24 production lines of galvanized steel tube with a capacity of 200,000 tons per year, 10 rolling lines of black steel pipes with a capacity of 110,000 tons per year, and 22 production lines of uPVC and HDPE plastic pipes with a capacity of 51,000 tons in a year.
Total capacity of the plant is as many as 365,000 tonnes per year. After taking into operation, the plant will contribute significantly to the local budget and generate jobs for about 1,000 local people.