Lotus Rolled Steel Project

3:26:22 PM | 7/8/2005

On October 16, 2004, Hoa Sen (Lotus) Joint Stock Company announced the investment project Lotus Steel having a capacity to produce 120,000 tonnes per year. It is the second largest plant in the country (after Phu My plant) with a total investment capital of over US$28 million (Phase 1) from local resources, Indian ODA and the Vietnam Development Fund. The demand for rolled steel in Vietnam is some 800,000 tonnes per year, increase annually by 15 per cent. The turnover will be VND960 billion a year and after-tax profit VND34 billion. It will create 200 jobs.

The project is part of the long-term development strategy of the company. After three years of operation, the products of the company have attained international standards and the company has been been granted ISO 9001:2000 certification by BVQI.