According to Hòa Phát ( #HPG# #) just invested 1 billion USD in Dung Quất, the construction of the high-speed rail steel plant will start in 3 weeks.

According to the consolidated financial report as of June 30, Hòa Phát Group ( #HPG# #) recorded the value of unfinished construction at over 72.7 trillion VND - an increase of more than 9 trillion compared to the beginning of the year. Of this, the total new investment value is nearly 10.5 trillion VND, while more than 1.4 trillion VND of unfinished costs have been converted into assets/prepaid expenses.

Among these, the Dung Quat Steel Complex project recorded a value of nearly 68.855 trillion VND, an increase of 8.747 trillion compared to the beginning of the year.

On July 29, the Management Board of Dung Quat Economic Zone and Quang Ngai Industrial Parks approved the policy and investor for the project of producing railway tracks and special steel by Hoa Phat Dung Quat with a duration of 50 years. The project covers an area of 14.79 hectares, with a designed capacity of 700,000 tons per year, an investment capital of 14,000 billion VND, expected to break ground on August 19 and be completed in February 2027. When operational, the revenue is expected to reach 11,000 billion VND per year.