Hòa Phát Group to start construction on container plant in June

Steel maker Hòa Phát Group will start construction of a cargo container plant in June this year in the southern province of Bà Rịa – Vũng Tàu.

The municipal Department of Planning and Investment on Monday officially granted the business registration certificate to Hòa Phát Container Manufacturing Joint Stock Company. The group has arranged enough capital to implement the project according to the committed schedule.

Raw materials for the production of shipping containers are hot rolled coil (HRC) weather-resistant and expensive SPA-H steel. Steel currently accounts for about 55 per cent of the production costs. This is a product of Hòa Phát Dung Quất Iron and Steel Production Complex. In Việt Nam, only this company has the technology to produce this type of steel.

The group has experience in large scale production, material resources and manufacturing. These factors have ensured high quality and reasonable prices for its cargo containers to be competitive with manufacturers from China, the world’s leading container producer.