Hoa Phat’s steel pipe to be exported to India
Hoa Phat’s steel pipe to be exported to India
Hoa Phat Steel Pipe Company Limited has announced the first order to export around 1,000 tonnes of galvanised steel pipe worth US$600,000 to India.
This would be the first time Hoa Phat steel pipe has been exported to the market. The export volume includes 400 tonnes from its Hung Yen plant with the remainder from its Binh Duong plant. The shipment would be delivered in March 2019.
India is considered a key market in the Asian region. The export also realised Hoa Phat’s target to diversify its markets.
Hoa Phat’s steel pipe products meet strict requirements imposed by foreign countries such as the US, Canada, South Korea, Cambodia and Myanmar.
It also received orders from US and Canada last month.
Hoa Phat’s total steel pipe output in 2018 reached nearly 800,000 tonnes, posting a 15 per cent year-on-year increase. Of which, its exports rose by 40 per cent from the previous year to 18,300 tonnes.
The company targeted an export turnover increase of 150 to 200 per cent this year.
