The company has an investment capital of VND 10,000 billion with the goal of building an industrial - high-tech steel production complex, with a capacity of about 5 million tons/year in phase 1, in Vung Ang, Ha Tinh.
Vin Metal will focus on the production of civil steel in construction; hot-rolled steel, high-intensity steel and specialty alloy steel for the production of electric vehicles and high-speed transport infrastructure. In particular, the main products include high-quality steel plated and body-matching steel, railway steel and railway bridge - port - railway structure steel that meets international standards, aiming to replace imported sources and gradually export to the region.
The establishment of a steel manufacturing company is primarily aimed at supplying material needs for the Group's core sectors such as Vinhomes real estate, VinFast electric vehicle manufacturing, etc. In addition, Vingroup also aims to proactively supply high-quality steel for industrial, energy and transportation projects that are being researched and proposed for construction, including the North-South high-speed railway, the Ho Chi Minh City - Can Gio and Hanoi - Quang Ninh routes.
In the long term, the Company aims to become a leader in green steel production in the domestic market, applying technology to reduce carbon emissions and reuse energy from renewable sources, contributing to promoting the metal processing industry in particular, as well as the development of heavy industry in Vietnam.
Mr. Nguyen Viet Quang - Vice Chairman of the Board of Directors and General Director of Vingroup Corporation, who is also General Director of Vin Metal, shared: Vin Metal is not only a steel factory, but also a strategic preparation for the modern, green and sustainable infrastructure future of Vietnam. Vingroup believes that proactively developing platform industries will contribute to bringing the country into a new era of development - where Vietnamese people master technology, materials and the ability to implement key national projects".
The establishment of Vin Metal Production and Trading Joint Stock Company marks a new step forward in Vingroup's 5- pillar development strategy, including: Technology - Industry; Trade and Service; Social Charity; Infrastructure; and Green Energy.
As a pillar of Industry - Technology, Vin Metal is also a foundation piece, directly supporting the Infrastructure pillar - a field that Vingroup is just expanding its investment in with high-speed railway projects, bridges, ports and logistics. Proactively producing domestic steel not only helps the Group ensure the supply of materials for large-scale projects, but also enhances Vietnam's heavy industrial endogenous capacity, contributing to increasing national competitive advantage and raising Vietnam's position on the world map.
With this step, Vingroup continues to affirm its aspiration to contribute and serve the country, and strive to complete the industrial - energy - infrastructure value chain, towards the goal of sustainable development and long-term prosperity for Vietnam./.
