Vingroup has announced the establishment of VinMetal Steel Production and Trading Joint Stock Company with an investment capital of 10 trillion VND, entering the metallurgical industry. The company will build an industrial steel production complex in Vung Ang, Ha Tinh, with an expected capacity of approximately 5 million tons per year in the first phase. VinMetal focuses on manufacturing steel for construction and electric vehicles, aiming to replace imported products and export to international markets. Key products include steel plates, body-stamped steel, and structural steel for infrastructure. VinMetal will not only supply materials for Vingroup projects like Vinhomes and VinFast but is also expected to meet the needs of major projects in Vietnam, such as the high-speed railway line. The company aims to produce green steel, reduce carbon emissions, and enhance the domestic heavy industry. This decision marks an important development in Vingroup’s 5-pillar strategy, contributing to enhancing Vietnam’s position on the international stage.
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