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Wednesday, September 28, 2022

Hoa Phat seeks to invest US$4.3 billion in projects in Dak Nong

The Saigon Times

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PHCMC – Steelmaker Hoa Phat Group plans to develop aluminum, ore processing and aluminum electrolysis factories and a wind power plant worth US$4.3 billion in the Central Highlands province of Dak Nong.

On April 11, the Dak Nong government worked with the group on these projects, the local media reported.

Accordingly, the aluminum and ore processing factories will have a capacity of two million tons and five million tons, respectively, per year. They will be developed in Dak Song District.

Meanwhile, the aluminum electrolysis factory will have an annual capacity of 0.5 million tons and the Hoa Phat wind power plant, 1,500 megawatts. They will be developed in Dak Song and Tuy Duc districts.

Tran Dinh Long, chairman of Hoa Phat, said if the projects are approved by the Dak Nong government, the group will mobilize resources to conduct them and put them into operation at the earliest.

According to the group’s calculation, these projects, when in place, will contribute some VND3 trillion in taxes per year to the Dak Nong’s budget.

Ngo Thanh Danh, secretary of the provincial Party Committee, said the province would ask the competent departments and agencies to support the Hoa Phat Group in completing procedures and executing the project.

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