Hoa Sen Group - prestigious investor

(Baonghean) - On Oct 4, 2014, Nghe An received good news when Hoa Sen Nghe An steel sheet plant in Nam Cam Industrial Park was officially launched and 6 months later, the plant has started operating efficiently. Hoa Sen Group continues to invest in another plant in Dong Hoi Industrial Park (Hoang Mai), which is expected to have machinery and equipment installed in Oct 2015 for operation.

For many years, with a number of innovation, integration and investment attraction advocates, Nghe An has attracted a lot of corporations and big investors including Hoa Sen Group - one of the leading economic groups in Vietnam as well as in ASEAN, currently the No. 1 in manufacturing and trading steel sheet - steel in Vietnam. Hoa Sen Group has invested in 2 plants in Dong Nam Economic Zone, one of which has come into operation. It is a prestigious investor with much potential and rapid investment, which can build trust and eagerness for both government and people in Nghe An.

Manufacturing steel sheet in Hoa Sen Nghe An plant.

Hoa Sen Nghe An steel sheet plant has already had 6 production lines manufacturing 100,000 - 120,000 tons per day to supply for many of its branches. Currently there are more than 100 employees working for the plant, many of whom are from Nghe An, etc. Situated in area B with an area of 12 hectares in Nam Cam Industrial Park, Dong Nam Economic Zone, Hoa Sen steel sheet plant project consists of 4 phases commencing in Sept 2015 and expected to finish in Aug 2018. The project has an expected total fixed capital of more than 2,360 billion dong, including: 12 production lines of steel pipe with a total design capacity of 100,000 tons per year; slitting lines with a total design capacity of 100,000 tons per year; production lines of color coated steel sheet‎ with a total design capacity of 100,000 tons per year; production lines of galvanized steel sheet/Zinc-Aluminum alloy coated steel sheet with a total design capacity of 400,000 tons per year; cold rolling lines; acid regeneration lines, pickling lines; CNC cylindrical grinders, etc. 4 phases of Hoa Sen steel sheet plant project are expected to be completed in Aug 2018.

In Dong Hoi - Nghe An Industrial Park, Hoa Sen group has just celebrated ground breaking ceremony for Hoa Sen Nghe An plant with an expected total investment capital of 7,000 billion dong. Cold rolling lines with a design capacity of 1.2 million tons/year; production lines of coated steel sheet with a total design capacity of 1 million ton/year, etc. have been installed in the plant. The plant shall be expected to manufacture the very first products in Mar 2016.

Both plants of Hoa Sen Group are promptly constructed ahead of schedule. When they finish all phases and start operating, the two plants shall help create jobs for around 1,000 employees, significantly contribute to the budget of Nghe An, support the socio-economic development in Northern Central Region; improve production and supplying capabilities of steel sheet and steel of Hoa Sen Group, meet market demands of Central and Northern provinces in particular, increase volumes exported to Laos, Thailand, Myanmar, etc. In the first 9 months of the fiscal year from Oct 2014 till Jun 30, 2015, the consumption output of finished products of Hoa Sen Group reached 771,630 tons, accounting for 85.74 percent of its yearly plan, in which export output was 320,579 tons, accounting for 96.4 percent; net revenue was 13,521 billion dong, accounting for 81.94 percent, profit after tax was 484 billion dong, accounting for 107.6 percent. These figures have been announced by Mr. Vu Van Thanh, Deputy Director General of Hoa Sen Group in electronic information portal of the State Security Committee and Ho Chi Minh City Stock Exchange. The group continues to gain big achievements with certain steps. Now, after 15 years of establishment and development, Hoa Sen Group has more than 4,500 employees and administration is based on its system. In 2015, along with being the leading exporter of steel sheet in Southeast Asia, Hoa Sen Group continues to be the No.1 to manufacture and trade steel sheet and steel in Vietnam.

The investor - Hoa Sen Group has come to Nghe An as a “destiny”, according to Mr. Le Phuoc Vu, Chairman of the Board. He said: “The spirit of attracting investment of the provincial leaders, especially the spirit of being receptive and self-motivated of Nghe An’s leaders at the present are so persuasive, and make us feel assured. Determination and efforts of investors have been appreciated by Nghe An’s Provincial Party Committee and Provincial People’s Committee; problems and difficulties have become the focus to be quickly resolved so that the projects can turn into practice early”.

In 2015, Hoa Sen Group plans to establish 50 more branches, aiming to reach the number of 300 branches in Vietnam by the end of 2017. With a strong basis built in the last 14 years, Hoa Sen Group has gradually asserted the stature of an active Vietnamese business during economic integration and affirms the Vietnamese brand with international rankings. The group has enlarged its exporting market of steel and steel sheet to more than 52 countries all over the world.

Chau Lan