Hoa Phat Group's subsidiary, Bai Goc Phu Yen Port JSC, received approval for its environmental impact assessment report. This regulatory milestone advances the construction of the Bai Goc port project, a vital component of Hoa Phat's VND 120 trillion integrated iron and steel complex.

The VND 24 trillion port project spans 306 hectares of land and water surface. The initial phase has a 15.6 million-ton annual capacity with seven berths and a breakwater system. The subsequent phase adds five berths, bringing cargo, storage, and transport services to the industrial park. Both phases accommodate 220,000 DWT vessels.

The port provides dedicated infrastructure for a new VND 86 trillion steel plant. This facility yields 6 million tons of steel annually, representing Hoa Phat's third major steel development.