Hoa Sen group to invest in a steel factory in Binh Dinh province
11/03/2014

 

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 DuLich, Deputy of National Assembly Delegation in Ho Chi Minh city, also participated in themeeting.

 

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

Themeeting was attended by leaders and representatives of numerous sectors anddepartments in the locality.

Hoa Sen group is one ofthe leading economic groups in Vietnamand 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 25^th out of500 biggest private enterprises in Vietnam by Vietnam Net and Vietnam Report,the group is famous with steel and plastic products. In 2013, the company achievedrevenue of more than VND 11,000 billion, after-tax profit of VND 581 billionwith export value of USD 250 million. The revenue is expected to be around VND14,000 billion and after-tax profit of VND 600 billion. The group is planningto build a new factory in Binh Dinh and another one in Nghe An province.

At the meeting, Mr Le HuuPhuoc asserted that the company is going to expand and construct a steelcompany 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 makescommitment that if the procedures are good and complete in May, the factorywill start making products and turnover in December this year.

The provincial leaderscommitted to give the best support so that the project can be implemented inthe area.