Vietnam’s Hoa Phat Group has announced that it is speeding up both construction and equipment installation at its rail and special steel manufacturing facility located in the Dung Quat Economic Zone as part of its strategy to expand into higher-value steel segments.

As of the end of the first quarter of 2026, the project was approximately 35% complete. Construction activities had entered their most intensive phase, with total investment exceeding VND 10 trillion. The company plans to begin installing equipment lines in June, with technical support provided by the Germany-based SMS group.

Hoa Phat plans to begin production of its first high-speed railway products in the first quarter of 2027, aligning with Vietnam’s broader infrastructure development initiatives. 

The facility is designed to achieve an annual production capacity of 700,000 tons, focusing on high-quality, specialized steel products.