Vietnam’s Hefa Group is investing VND 8.5 trillion to install a blast furnace in Quang Ngai province which is expected to start early next year. This will be the company’s fifth blast furnace. After expansion, Hefa’s annual production capacity will rise by 5.6 mn t – about 4.6 mn t of hot-rolled coils and around 1 mn t of long steel products and wire rods. Furthermore, the company aims to expand its annual crude steel production capacity by 70% to approximately 14 mn t/year by 2024.
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