Viet Phap Steel Sheet JSC has initiated a major industrial expansion with the groundbreaking of its second steel plant in Vietnam's strategic Hai Phong City. The project, representing a substantial investment of $45 million, is set to enhance the company's production capabilities and strengthen Vietnam's position in the regional steel industry.
The new facility, designated as steel sheet plant No. 2, will occupy an impressive 75,000 square meters within the Nam Dinh Vu Industrial Park. This strategic location offers significant logistical advantages, being situated near major seaports and transportation routes. The proximity to these crucial infrastructure elements positions Viet Phap Steel to optimize its operational costs and enhance its market competitiveness both domestically and internationally.
The plant's design incorporates cutting-edge technology and modern manufacturing processes, demonstrating Viet Phap's commitment to industrial excellence. With a planned annual production capacity of 350,000 metric tons, the facility will significantly boost the company's ability to meet growing market demands. The integration of advanced technologies underscores the company's focus on maintaining high quality standards while ensuring operational efficiency and environmental sustainability.
Hai Long Construction, the project's designated contractor, has outlined an ambitious construction timeline of 200 days for the plant's completion. This accelerated schedule has been made possible through the active support and cooperation of the Hai Phong Economic Zone management, who are working to eliminate potential bureaucratic obstacles and streamline the construction process.
The project's location in Hai Phong City, one of Vietnam's major industrial hubs, is particularly significant. The city's well-developed infrastructure and established industrial ecosystem provide an ideal environment for large-scale manufacturing operations. The new plant will benefit from existing supply chains and logistics networks, potentially creating synergies with other industrial operations in the region.
