The Provincial People's Committee commented on the adjustment to increase the capacity of the Hoa Phat Dung Quat Iron and Steel Production Complex project.

On the afternoon of March 22, Chairman of the Provincial People's Committee Dang Van Minh and Vice Chairmen of the Provincial People's Committee Tran Hoang Tuan and Tran Phuoc Hien chaired a meeting with functional departments of the province to hear and give opinions on the adjustment of raising capacity of the Hoa Phat Dung Quat Iron and Steel Production Complex project.

The Hoa Phat Dung Quat Iron and Steel Production Complex Project was approved by the Prime Minister in January 2017 and approved for the first adjustment of investment policy in May 2021, with a capacity of 4 million tons per year. The investment is divided into 2 phases, with each phase having a capacity of 2 million tons per year. The total investment capital of the project is about 60,000 billion VND.

In the first quarter of 2020, the investor completed and put into operation phase 1 and put into trial operation phase 2. Simultaneously, 11/11 specialized wharfs were completed and put into service. 

To balance the trade of import and export, in order to be proactive in the source of high-quality steel materials to meet the needs of domestic and foreign markets. At the same time, in order to reduce investment costs, increase capacity, increase competitiveness in the market, and increase land use value, the investor proposes to increase the design capacity of the project from 4 million tons per year to 6 million tons per year and also to invest in 2 phases: phase I, 2 million tons of steel per year; and phase II, 4 million tons of steel per year. In which phase II-a produces 2 million tons of flat steel per year and phase II-b produces 2 million tons of steel per year. The total investment capital of the project is about 86,000 billion VND.

The representative of the investor, Hoa Phat Group Joint Stock Company, said that the enterprise is currently carrying out the acceptance test and has completed putting into official operation phase II-a. It is expected that in 2023, the legal procedures of Phase II-B will be completed. From the first quarter of 2024 to the fourth quarter of 2025, the project will be built, installed, and put into operation.

At the meeting, the delegates said that the adjustment of the complex project to increase the capacity to 6 million tons/year does not change the location or use area, so it is still consistent with the detailed planning of construction of the industrial zone in the south of Dong Dung Quat and in accordance with the planning and development orientation of the steel industry. The adjustment increases the progress of the investment project to ensure the implementation time, optimize the technology line, increase the project capacity, etc.

Chairman of the Provincial People's Committee Dang Van Minh agreed to the policy of adjusting and improving the design capacity of the construction investment project of Hoa Phat Dung Quat Iron and Steel Production Complex in the region after hearing views from departments and branches. Dung Quat economy increased from 4 million to 6 million tons annually. At the same time, investors must fulfill the necessary steps to launch the project in compliance with the law.

Departments, branches, and localities support and guide investors in completing dossiers and procedures; closely monitor the investor's process of installing machinery and equipment; and operate the project in accordance with commitments and regulations.

By T.Giang