【SMM Steel】Hoa Phat Group achieves 90% energy self-sufficiency via green solutions

Published: May 26, 2026 16:55

Save

【SMM Steel】Hoa Phat now generates ~90% of its production electricity internally, keeping grid reliance at 10% for backup. Deputy Director Nguyen Do Dung said using waste heat and gases for power cuts costs by trillions of Vietnamese dong annually without consuming fossil fuels. The group also integrates energy-efficient equipment and recycles saturated heat across its major steel complexes. Hoa Phat plans to install 100 MWp of rooftop solar systems by year-end, including a 79.2 MWp project at Dung Quat.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.hoursAgo

5.26 SMM Global Steel Daily Report

China's HRC export prices fell 2 USD/tonne MoM today due to RMB appreciation, with some product categories maintaining relatively firm quotes for now. Futures pulled back today, market inquiries weakened, and traders reported that trading activity was very limited as the Eid al-Adha holiday approached in the Middle East.

Common.Time.hoursAgo

[SMM Steel Market Flash] Thyssenkrupp to Close Indiana Auto Plant by 2027, Consolidating US Ops in Ohio

Thyssenkrupp Automotive Technology has announced it will close its Terre Haute, Indiana facility — operated by thyssenkrupp Presta North America and employing around 230 people — by March 31, 2027. U.S. chassis operations will be consolidated at the Hamilton, Ohio plant run by thyssenkrupp Bilstein of America. The company said the closure will be phased to ensure uninterrupted customer supply. COO Viktor Molnar framed the move as a step toward more flexible and cost-efficient production structures amid ongoing transformation in the automotive industry.

Common.Time.hoursAgo

MMi Daily Iron Ore Report (May 26)

On May 26, 2026, the iron ore futures market showed a weak trend today, with the main contract I2609 closing at 781 yuan/ton, down 1.95% from the previous trading session. Port spot prices fell by 5–10 yuan/ton compared to the previous day.

Common.Time.hoursAgo