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Quang Ngai: Give the Investment Certificate of the steel production complex project in Dung Quat Economic Zone to Hoa Phat Dung Quat.

In the afternoon of February 6th 2017, Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority hold a ceremony to give the Investment certificate on the project of the steel production complex in Dung Quat Economic Zone to Hoa Phat Group.

Attending at the ceremony were: Mr. Le Viet Chu_ Member of the Party Central Committee, Secretary of the Quang Ngai Provincial Party Committee; Ms. Bui Thi Quynh Van_ alternate member of Party Central Committee, Chairman of Quang Ngai Provincial People’s Council; Mr. Tran Ngoc Cang – Deputy Secretary of the Provincial Party Committee, Chairman of Quang Ngai PPC; the comrades of Provincial Party Standing Committee of Quang Ngai, Standing People’s Council, People’s Committee of Quang Ngai province; the provincial Fatherland Front Committee and  Provincial Parliament Delegation; representatives of departments, branches and relevant localities; leaders of banks in Quang Ngai provice; leaders of Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority.

In Hoa Phat group, there were: Mr. Tran Dinh Long _ Chairman, Mr. Tran Tuan Duong _ General Director, Mr Mai Van Ha – Director of Hoa Phat Dung Quat Steel Joint Stock Company and representatives of Hoa Phat’s subsidiary companies.

Hoa Phat Dung Quat, the new name of the project, has received approval in principle from the Prime Minister, according to Document 152 issued on January 25. Hoa Phat’s iron and steel production complex in Dung Quat Economic Zone will go up on the premises of the Guang Lian steel project which was included in the steel production and distribution system development plan until 2020, with a vision towards 2025, approved in early 2013 by the Minister of Industry and Trade in the Dicision 694/QĐ-BCT on January 31st2013.

With total capital of nearly VND 60.000 trillion, the Hoa Phat Dung Quat steel project would have an annual capacity of four million tons, and be carried out in two phases with each having a yearly capacity of two million tons. Phase 1, it will be implemented in two years with the first phase of long steel, steel construction which is 01 million tonnes of rebar and wire coils 01 million tonnes of high quality steel. Later stage will be implemented after phase 1, lasting 18 months with key products of flats. After the completion , the steel plant with an annual expected revenue of $2 billion will not only contribute about VND 4 trillion ($178.3 million) a year to the province’s.

On behalf of Quang Ngai province, Mr. Tran Ngoc Cang_Chairman of Quang Ngai PPC  appreciated  the investment of Hoa Phat Group for the project on iron and steel production complex in Dung Quat Economic Zone and confirms that the project of Hoa Phat Group in Dung Quat is a right and promising choice. With the potential and investment environment in Dung Quat and effective business strategies, the project will be sucessful and more expanded. Quang Ngai  will carry out open and transparent administrative procedures, simplify and cut down on hassle, complex administrative procedures, and unofficial and travel time cost for investors. At the ceremony today, he wishes Hoa Phat Group will act as a bridge to promote investors in Quang Ngai province in the coming time.

TG

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