HCMC – Hoa Phat Group (HOSE: HPG) signed a contract on May 29 with German metals industry firm SMS Group for the supply of technology and production line to manufacture rail steel and structural steel, reported the Government news site.
The production line is a key component of Hoa Phat’s rail and structural steel plant project in Dung Quat, Quang Ngai Province, which has a total investment of VND14 trillion.
It is expected to be completed within 20 months, with the first high-speed rail track products scheduled for rollout in the first quarter of 2027.
The plant will produce special-use steel products such as rails for urban railways, overhead cranes, and high-speed rail, as well as structural steel types like U, I, H, and V beams. These products are intended for key national railway projects and export to international markets.
Hoa Phat Chairman Tran Dinh Long said the company is investing in the plant to optimize its production chain while fulfilling its commitment to the Government to supply steel products for high-speed rail and other key national projects.
Closing the trading session today, May 29, HPG inched down 0.2% day-on-day to VND25,550, with more than 16.4 million shares traded.
On the southern bourse, 163 stocks gained while 162 declined, leaving the VN-Index nearly flat at 1,341.86 points at the close.
Over 926.4 million shares worth VND20.97 trillion were transacted, down 4% in volume and 6% in value from the previous session. Block deal transactions contributed more than 48 million shares worth VND1.26 trillion.
Many blue chips slipped into negative territory with mild losses, as SHB, BVH, CTG, and PLX each declined around 1.5%. SHB topped the market in liquidity with over 76.8 million shares traded.
On the upside, VRE remained the standout performer. Although it retreated from its intraday high, the stock still closed up 3.6% at VND27,650.
NVL was the session’s focal point as it hit the ceiling price, rising 6.9% to VND13,950 with over 62.8 million shares traded, the highest volume since mid-September 2024.
The HNX saw 88 gainers and 72 losers, with the HNX-Index rising 0.74 point, or 0.33%, to 224.3 points. Trading volume exceeded 81.4 million shares worth VND1.31 trillion.
