The Hoa Phat Group and the Minerals Corp of the Vietnam Coal and Minerals Group have signed a long-term cooperation deal to jointly exploit mining this year, the Vietnam News Agency reported Thursday. Under the deal, the Minerals Corp and the Hoa Phat Group will apply for licenses for joint exploitation in several mining activities in Laos and Cambodia. Hoa Phat group plans to expand its overseas operations by building a 300,000-ton iron ore processing plant in Laos' HouaPhan province and planting rubbers in Cambodia. The deal is Hoa Phat’s important step to secure material supply for its steel complex project which is scheduled to be operational in 2009, said General Director Tran Tuan Duong. The Minerals Corp is a leading affiliate of the Coal and Minerals Group with some large plants, including the Song Cong Zinc Plant with a capacity of 1,000 tons per year, the Thai Nguyen Steel Plant with 20,000 tons per year, and the Cao Bang Steel Plant with 220,000 tons of steel ingot … [Read more...] about Hoa Phat Group, Minerals Corp Ink Cooperation Deal
Hoa phat group
Hoa Phat Group rejects rumor of buying tycoon Kien’s FCs
VietNamNet Bridge ' According to a source from the Hoa Phat Group, this firm will not purchase two football clubs of Nguyen Duc Kien, who was arrested on August 20. Kien's Hanoi FC and Young Hanoi FC may be dissolved after their boss was arrested. The public is now interested in not only the investigation result over Kien's case but also the fate of his two FCs. If the worst happens, many people thought that Hoa Phat Group would rescue the two FCs because the relation between Kien and Hoa Phat's boss is very good. Last September, Hoa Phat Group's Vice Chair Nguyen Manh Tuan stated to stop investing in football and sold Hoa Phat Hanoi FC to Kien. It said that Hoa Phat Group's Chair Tran Dinh Long and Vice Chair Nguyen Manh Tuan have great passion for football so they may return by purchasing Kien's two FCs. However, Tuan said on August 23 that he did not think of re-investment in football and did not intent to purchase Kien's two FCs. The Vietnam Football Federation's Vice … [Read more...] about Hoa Phat Group rejects rumor of buying tycoon Kien’s FCs
Japanese investors keen on Hoa Phat group
A delegation of Japanese investors have visited Vietnam seeking business opportunities with the Hoa Phat Group (HPG), a renowned Vietnamese group in furniture and steel production. HPG General Director Tran Tuan Duong briefed the delegation on his group's achievements in 2011 and market predictions in 2012. Despite having to cope with the global economic downturn, HPG's revenues reached nearly VND18,120 billion last year, 3.5 percent higher than the set target and 25 percent higher than in 2010, Duong said. HPG's steel production sector alone surpassed all the set targets and contributed 79 percent of the group's total revenues and 75 percent of its profit. Although Vietnam's construction steel market fell in 2011, HPG's market share increased from 12 percent in 2010 to 13.3 percent in 2011, with output reaching near 100 percent of factory capacity. Hiroshi Hiramoto, Managing Director of the Japan Securities Institute (JSI) and a representative from the Japanese … [Read more...] about Japanese investors keen on Hoa Phat group
Hoa Phat Group announces H1 profit
HA NOI (Biz Hub) — The Hoa Phat Group has posted consolidated revenue of more than VND13.6 trillion (more than US$623.4 million) for the first half of this year. It earned a consolidated profit of more than VND1.9 trillion (more than $87.09 million) during the same period. It has thus achieved 61 per cent and 83 per cent of its revenue and profit targets, respectively, for the year. Sales of the group's two major products, construction steel and steel pipes, contributed the most to its H1 growth. According to the group's report, it sold 675,000 tonnes of construction steel, seeing a 52 per cent year-on-year increase. It controlled 22.1 per cent of the steel market in the first half of the year. Meanwhile, some 196,000 tonnes of steel pipes were sold in the first six months of 2015, which is a 44 per cent year-on-year increase. This helped the group consolidate its top position in the country, with a market share of nearly 22 per cent. In the second quarter of 2015, it earned … [Read more...] about Hoa Phat Group announces H1 profit
Hoa Phat Group’s Strength
Starting its trade in the field of construction machines in 1992, Hoa Phat was restructured into a group, involved in different sectors and having stock listed on the Vietnamese stock market in 2007. The group now consists of 13 affiliates which are operating in the aspects of steel production, mining, coke production, real estate, interior furniture, machines and construction equipment with many factories built in Hanoi, Hung Yen, Hai Duong, Lao Cai, Yen Bai, Ha Giang, Ho Chi Minh City and Binh Duong. Among its production zones, it is worth mentioning the group’s Steel Integrated complex built in an area of 132ha in 2007 in Kinh Mon, Hai Duong. The complex with a capacity of 850,000tonnes/year and the self-contained high-furnace technology from ore to finished steel is run by the Hoa Phat Steel Joint-stock Company. Visiting the complex and witnessing the factory operating at full capacity all round the clock, the ground full of ore and coke and a bustling atmosphere at the … [Read more...] about Hoa Phat Group’s Strength