The company's objective is to meet the internal needs of the Vingroup ecosystem while also contributing to the development of heavy industry in Vietnam.
The company has an investment capital of 10,000 billion VND with the goal of building a high-tech industrial steel production complex with a capacity of approximately 5 million tons/year in phase 1, in Vung Ang, Ha Tinh .
VinMetal will focus on producing civil steel for construction; hot-rolled steel, high-strength steel, and special alloy steels for electric vehicle production and high-speed transportation infrastructure. Key products include high-quality steel plates and stamped steel for vehicle bodies , rail steel, and structural steel for bridges, ports, and railways, meeting international standards, aiming to replace imports and gradually export to the region.
VinMetal will supply steel materials to the Group's core businesses such as Vinhomes real estate, VinFast electric vehicle manufacturing, etc.
The establishment of the steel manufacturing company is primarily aimed at supplying materials for the Group's core business areas such as Vinhomes real estate and VinFast electric vehicle production. In addition, Vingroup also aims to proactively secure a supply of high-quality steel for industrial, energy, and transportation projects currently under research and proposed for construction, including the North-South high-speed railway, the Ho Chi Minh City-Can Gio line, and the Hanoi-Quang Ninh line.
In the long term, the company aims to become a leader in green steel production in the domestic market, applying carbon emission reduction technologies and reusing energy from renewable sources, contributing to the development of the metallurgical industry in particular, as well as heavy industry in Vietnam.
With the launch of VinMetal, Vingroup Group aims to proactively secure a supply of high-quality steel for future industrial, energy, and transportation infrastructure projects.
Mr. Nguyen Viet Quang – Vice Chairman of the Board of Directors and General Director of Vingroup, and also General Director of VinMetal, shared: "VinMetal is not just a steel production plant, but also a strategic preparation for Vietnam's future modern, green, and sustainable infrastructure. Vingroup believes that proactively developing foundational industries will contribute to ushering the country into a new era of development – where Vietnamese people master technology, materials, and the capacity to implement key national projects."
The establishment of VinMetal Manufacturing and Trading Joint Stock Company marks a new step in Vingroup's development strategy based on five pillars: Technology - Industry; Trade and Services; Social Philanthropy; Infrastructure; and Green Energy.
As part of the Industry-Technology pillar, VinMetal also serves as a foundational piece, directly supporting the Infrastructure pillar – an area where Vingroup is expanding its investments with high-speed rail, bridges, ports, and logistics projects. Proactive domestic steel production not only helps the Group secure a supply of materials for large-scale projects but also strengthens Vietnam's endogenous heavy industry capacity, contributing to increased national competitiveness and elevating Vietnam's position on the world map.
With this step, Vingroup continues to affirm its aspiration to contribute and serve the country, and strives to perfect the industrial-energy-infrastructure value chain, aiming for sustainable development and long-term prosperity for Vietnam.
Source: https://vtv.vn/vingroup-thanh-lap-cong-ty-san-xuat-thep-vinmetal-chinh-thuc-gia-nhap-linh-vuc-cong-nghiep-luyen-kim-100251006173507257.htm
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