Hoa Sen group to invest in a steel factory in Binh Dinh province

On 9/3/2014, leaders of the People’s Committee of Binh Dinh province hosted Mr Le Huu Phuoc, Management Board Chairman of Hoa Sen group Joint Stock Company. Mr Tran Du Lich, Deputy of National Assembly Delegation in Ho Chi Minh city, also participated in the meeting.

Picture: Mr Le Huu Phuoc, Management Board Chairman of Hoa Sen group (second from the left)

Picture: Mr Lê Hữu Phước, Management Board Chairman of Hoa Sen group (second from the left)

The meeting was attended by leaders and representatives of numerous sectors and departments in the locality.

Hoa Sen group is one of the leading economic groups in Vietnam and ASEAN, owing an integrated network of manufacture and trade. At present, the group has 04 factories, 4000 employees with direct distribution network, 115 braches and 03 warehouses nationwide. Being ranked 25th out of 500 biggest private enterprises in Vietnam by Vietnam Net and Vietnam Report, the group is famous with steel and plastic products. In 2013, the company achieved revenue of more than VND 11,000 billion, after-tax profit of VND 581 billion with export value of USD 250 million. The revenue is expected to be around VND 14,000 billion and after-tax profit of VND 600 billion. The group is planning to build a new factory in Binh Dinh and another one in Nghe An province.

At the meeting, Mr Le Huu Phuoc asserted that the company is going to expand and construct a steel company in Binh Dinh with capital in the first stage of VND 100 – 120 billion, The project will create for 100 workers and use around 5-10ha. He makes commitment that if the procedures are good and complete in May, the factory will start making products and turnover in December this year.

The provincial leaders committed to give the best support so that the project can be implemented in the area.

Source: http://www.binhdinhinvest.gov.vn/newsDetail.php?idNews=418&idNewsStyle=1