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Beyond the riverfront boulevard project, Hoà Phát’s leadership said the group plans to study investments in infrastructure projects, urban areas, and housing with high liquidity and prices aligned with the income levels of the majority of people.
The riverfront boulevard project covers more than 11,000 hectares, with initial capital of 855 trillion dong. Previously, the joint venture of Đại Quang Minh - Văn Phú - Thaco - T&T - Hoà Phát proposed that Hanoi’s People’s Committee build four resettlement areas. These projects are concentrated in Hong Hà and Linh Nam wards and Me Linh and Bát Tràng communes, totaling more than 113 hectares.
Chairman Trần Đình Long said steel production continues to be Hoà Phát’s core business. He forecast a favorable market trend supported by global dynamics. The Hoa Phat Dung Quat 2 steel project has been completed, with products available from September 2025.
Earlier this year, Hoà Phát began construction of a plant to produce rails and specialty steel, with capacity of 700,000 tons per year. Regarding concerns about demand for rail steel, Mr. Long told shareholders to be “assured,” describing rails as a flagship product of the plant, though not the only one. In addition to about 200,000 tons of rails per year, the plant can also produce 500,000 tons of shaped steel and angle steel—traditional products already on the market.
Mr. Long said the group is “not worried, not complacent” about new competitors entering the market, including VinMetal, a company within the VinGroup ecosystem. “Last year there were similar questions about other rivals; this year the VinMetal story, and next year it may well see more new brands,” he said.
He added that the appearance of competition creates incentives for the workforce. “Thanks to the pressure, the organization now has the motivation to complete and develop,” he said.
Hoà Phát currently ranks first in Vietnam in market share of structural steel and steel pipes, at 37.6% and 31.2%, respectively.
Last year, the group’s revenue exceeded 158.33 trillion dong, with steel production accounting for 93%. Steel sales volume surpassed 10 million tons for the first time, with hot-rolled coil (HRC) up more than 70%.
For this year, Hoà Phát targets revenue of 210 trillion dong and net profit of 22 trillion dong, up 33% and 42% respectively from 2025.
In the first quarter, revenue reached over 53.5 trillion dong, up 42% year-on-year. Net profit exceeded 9.056 trillion dong, up 169%—the highest since Q3 2021.
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