HCMC – Steelmaker Hoa Phat Group (HOSE: HPG) plans to break ground this month on a new facility dedicated to manufacturing railway rails and specialty steel, aiming to support key national transport infrastructure projects.
The Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority is expediting the necessary procedures to facilitate the project. The upcoming plant, located in Dung Quat, will produce high-quality steel products tailored for railways and other strategic sectors, reported baoquangngai.vn.
Prime Minister Pham Minh Chinh, during a visit to Hoa Phat Dung Quat Steel JSC in February, encouraged the company to accelerate the development of domestically produced high-grade rails. He emphasized the need for locally made steel to serve the North-South high-speed railway, connections with China’s railway network, and urban rail systems. The prime minister also called on Quang Ngai Province to allocate land for the project.
Tran Dinh Long, chairman of the steel corporation, expressed the group’s commitment to reducing reliance on steel imports. “With our current capabilities, Hoa Phat is confident in our ability to produce railway rails and other specialty steel products, including axle steel for trains and high-speed rail,” he said. The company aims to meet domestic demand while exploring export opportunities.
The provincial leadership has pledged full support for the project. Quang Ngai’s Party Secretary confirmed that 143 hectares of land has been earmarked for Hoa Phat’s steel production expansion.
Closing the trading session today, April 2, HPG edged up 0.93% to VND27,250, with nearly 16.8 million shares changing hands.
The VN-Index moved sideways with a marginal 0.04% increase, adding 0.5 point to close at 1,317.83 points, with 245 gainers and 200 decliners. Trading volume reached 849.3 million shares valued at VND19.3 trillion, jumping 37% in volume and 28.4% in value compared to the previous session. Block deals contributed 140 million shares worth VND3.58 trillion.
Bank stocks saw only four advancers, although their gains were modest. EIB rose 1.28% to VND19,800, while VCB, regarded as a key player in the sector, inched up 0.47% to VND64,800. SHB added 0.8% and CTG edged up 0.24%.
Four other bank stocks ended flat, while the rest declined, led by SSB, which slipped 1.79%. SHB took the lead by liquidity in this group, with 47 million shares changing hands.
In the brokerage sector, VIX climbed 3.6% to VND12,950, taking the lead by liquidity with 62.1 million shares changing hands. VND rose 3.25% to VND15,900, ranking fourth by liquidity.
On the Hanoi Stock Exchange, the HNX-Index added 1.72 points, or 0.73%, to close at 238.13 points, with 78 winners and 73 losers. There were 50.8 million shares worth VND793 billion being matched on the northern market.
