At the general meeting of shareholders on 21/4, billionaire Tran Dinh Long, Chairman of Hoa Phat Group, announced that the enterprise is involved in the Red River Landscape Boulevard project with a "moderate contribution". Dai Quang Minh company holds the controlling role in this project.

Long views this as a significant project with a 100-year vision, making him "proud and fortunate to be involved". He stated, "Hoa Phat is not prioritizing profit when undertaking this project, but we are also not proceeding at all costs".

According to Long, the project boasts a unique location and is expected to bring economic benefits while significantly enhancing Hanoi's infrastructure. He added, "The project will completely transform this area into a grand architectural work, creating an urban district as beautiful as those in South Korea or China. Annually, it could attract 30-40 million visitors, featuring dozens of themed parks".

Chairman of Hoa Phat Group Tran Dinh Long speaking at the general meeting of shareholders, 21/4. Photo: Tu Nghi

Beyond the Red River Landscape Boulevard project, Hoa Phat's leadership plans to explore investments in infrastructure, urban areas, and housing projects with high liquidity and reasonable prices, accessible to most people. The group's strategy is to proceed cautiously, focusing on foundational projects in prime locations within major cities.

The Red River Landscape Boulevard investment project spans over 11.000 hectares, with a preliminary capital of 855.000 ty dong. Previously, a consortium comprising Dai Quang Minh - Van Phu - Thaco - T&T - Hoa Phat proposed to the Hanoi People's Committee to construct four resettlement areas for the project. These projects are concentrated in Hong Ha and Linh Nam wards, and Me Linh and Bat Trang communes, covering a total area of over 113 hectares.

Aside from real estate, Chairman Tran Dinh Long affirmed that steel production remains Hoa Phat's core business. He anticipates a favorable market outlook due to global trends, noting that the Hoa Phat Dung Quat 2 steel project is complete and will yield products starting September 2025.

Earlier this year, Hoa Phat commenced construction of a rail and special steel production plant, with an annual capacity of 700.000 tons. This plant is expected to deliver its first products in Quarter I/2027.

Addressing concerns about the consumption of rail steel, Long assured shareholders that it is a primary product of the plant but not the only one. In addition to approximately 200.000 tons of rail per year, the plant can also produce 500.000 tons of structural steel and angle steel, which are traditional products in the market.

He also stated that the group is "not worried, nor complacent" about the emergence of new competitors, such as VinMetal, an enterprise within the Vingroup ecosystem.

According to Long, the continuous appearance of new players in the market is inevitable, as steel production is an open industry. He said, "Last year, similar questions arose about other competitors, this year it is VinMetal, and next year, more new brands could emerge".

Therefore, the presence of competitors provides a strong impetus for the workforce. He added, "Pressure motivates the organization to improve and develop".

Hoa Phat currently holds the top position in Vietnam's market share for construction steel and steel pipes, accounting for 37,6% and 31,2% respectively. Last year, the group's revenue reached 158.332 ty dong, with steel production contributing 93%. The group's total steel sales volume exceeded 10 million tons for the first time, with hot-rolled coil (HRC) growing over 70%.

For this year, Tran Dinh Long's enterprise targets 210.000 ty dong in revenue and 22.000 ty dong in after-tax profit, representing increases of 33% and 42% respectively compared to 2025. In Quarter I alone, the group's revenue exceeded 53.500 ty dong, a 42% increase year-on-year. After-tax profit reached over 9.056 ty dong, an increase of 169%, marking the highest level since Quarter III/2021.

Phuong Dung