On October 6, Vingroup Corporation announced the establishment of VinMetal Production and Trading Joint Stock Company, officially entering the metallurgical industry, expanding the current Industry - Technology pillar. The Company's goal is to meet the internal needs of the Vingroup ecosystem, while also participating in promoting 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 about 5 million tons/year in phase 1, in Vung Ang, Ha Tinh .
VinMetal Company will supply steel materials for the Group's core areas such as Vinhomes real estate, VinFast electric vehicle manufacturing, etc.
VinMetal will focus on producing civil steel lines for construction; hot-rolled steel, high-strength steel and special alloy steel for electric vehicle production and high-speed transport infrastructure. In particular, key products include high-quality steel plates and stamped steel for vehicle bodies, rail steel and steel for bridges, ports and railways that meet international standards, aiming to replace imported sources and gradually export to the region.
The establishment of a steel production company is primarily aimed at supplying materials for the Group's core areas such as Vinhomes real estate, VinFast electric vehicle production, 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 route and the Hanoi - Quang Ninh route.
In the long term, the Company aims to become a leader in green steel production in the domestic market, applying carbon emission reduction technology and reusing energy from renewable sources, contributing to promoting the metallurgical 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, and General Director of VinMetal - shared: "VinMetal is not only a steel factory, but also a strategic preparation for the future of modern, green and sustainable infrastructure in Vietnam.
Vingroup believes that proactively developing foundational industries will contribute to bringing the country into a new era of development – where Vietnamese people master technology, materials and the capacity to implement key national projects.
With the establishment of VinMetal, Vingroup Corporation aims to proactively supply high-quality steel for future industrial, energy and transport infrastructure projects.
The establishment of VinMetal Production and Trading Joint Stock Company marks a new step in Vingroup's development strategy based on 5 pillars, including: Technology - Industry; Trade and Services; Social Charity; Infrastructure; and Green Energy.
Belonging to the Industry - Technology pillar, VinMetal is also a fundamental piece, directly supporting the Infrastructure pillar - a field in which Vingroup is expanding its investment with high-speed railway, bridge, port and logistics projects. Proactively producing steel domestically not only helps the Group ensure the supply of materials for large-scale projects, but also strengthens the internal capacity of Vietnam's heavy industry, contributing to increasing national competitive advantages 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, towards the goal of sustainable development and long-term prosperity for Vietnam.
Source: https://vtcnews.vn/vingroup-thanh-lap-cong-ty-san-xuat-thep-vinmetal-gia-nhap-linh-vuc-luyen-kim-ar969592.html
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