In February, Hoa Phat Steel from Vietnam announced that Dung Quat Hoa Phat steel company would manufacture stainless steel with Danieli group, a metallurgical equipment company in Italy.

If the cooperation plan went smoothly, it would become the first high technique factory for producing stainless steel products in Vietnam.

Dung Quat Hoa Phat expressed that the outputs of cooperation project were estimated at 600,000 tons per year. With the help of infrastructure, it could decrease the reliance on the imports once the cooperation project succeed.