Bình Định approves expansion of Hoa Sen's steel plant

Bình Định approves expansion of Hoa Sen's steel plant

The expansion will cover 9.1ha in the Nhơn Hội Economic Zone and aims to boost production capacity for key product lines, targeting an output of 350,000 tonnes per year.

Hoa Sen Nhơn Hội-Bình Định steel plant in the south-central province of Bình Định. — Photo hoasengroup.vn

The Bình Định Economic Zone Administration (BEZA) has approved in principle the expansion of Hoa Sen Nhơn Hội-Binh Định steel plant located in the province. 

The expansion will cover 9.1ha in the Nhơn Hội Economic Zone and aims to boost production capacity for key product lines, targeting an output of 350,000 tonnes per year, baodautu.vn reported. 

The plant's expansion, expected to cost VNĐ2.33 trillion (over US$91.54 million), is set to begin in the first quarter of 2025 and is slated for completion by the second quarter of 2027.

The Quy Nhơn-based Hoa Sen Nhơn Hội-Binh Định One Member LLC has been steadily expanding the plant's production capacity. The first phase, launched in 2017, introduced a 180,000-tonne annual capacity, while the second phase, completed in 2019, increased the plant’s total production to 430,000 tonnes per year. 

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