Located in the new product development orientation of the core business, Hoa Phat Group has decided to invest in Hoa Phat Color Coating Factory in Pho Noi A Industrial Zone, Hung Yen Province with a capacity of 400,000 tons a year.
The investment objective of the Group is to produce color galvanized steel for the demand of the market, while also supporting steel sheet material for the steel pipe factory in Hung Yen. With a total investment capital of about VND4,000 billion (including VND2,000 billion in fixed capital), Hoa Phat will invest in the cleaning, cold rolling, zinc / plating and coloring. The output of the factory will be rust removal, cold rolled (full hard), cold plated, galvanized and painted.
In order to deploy the plant, Hoa Phat has finalized the project and is expected to start construction in May 2016, completed in 18 months and put into operation in early 2018.
According to the leaders of the Group, Hoa Phat Color Coating Factory will use advanced technology from Italy, Japan and Germany. With its extensive experience in production and distribution of steel pipes, Hoa Phat is confident to succeed in this project.