Branded Products & Retail segment deliveries increased by around 14% yoy in 9MFY22 with 3QFY22 deliveries were higher by 2% qoq.

Both parties are examining various options to cooperate and leverage the technical, financial, and operational strengths of each company.

As the domestic market has been heavily affected by the COVID-19 pandemic, many small steel enterprises experienced a sharp decline in profit in the third quarter of 2021.

Both the entities have signed a memorandum of understanding (MoU) to this effect.

In November alone, Hoa Phat shipped more than 100,000 tonnes of construction steel abroad, seeing a 2.3-fold increase year on year.

Currently, the South Korean steel major operates a 1.8-million-ton cold-rolled and galvanized mill in India along with four processing centers.

Combined revenue of the enterprises exceeded 6.33 trillion yuan during the period, growing more than 36 percent year-on-year.

The local environmental protection agency has confirmed that the pollution is showing a decreasing trend compared with the previous years.