Vingroup established steel production company VinMetal, with an investment capital of 10,000 billion VND.

(Dan Tri) - Vingroup Corporation announced the establishment of VinMetal Production and Trading Joint Stock Company, marking its entry into the metallurgical industry sector, expanding its current industrial - technological pillar.

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 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 traffic infrastructure.

In particular, key products include high-quality steel plates and stamped steel for vehicle bodies, rail steel and bridge-port-railway structural steel that meet international standards, aiming to replace imported sources and gradually export to the region.

VinMetal Company will supply steel materials for the Group's core areas such as Vinhomes real estate, VinFast electric vehicle production, etc. (Photo: Vingroup ).

The establishment of a steel production company is primarily to supply material needs 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 (Photo: VinMetal).

The establishment of VinMetal Production and Trading Joint Stock Company marks a new step forward in Vingroup's development strategy based on five pillars, including: technology - industry; trade and services; social charity; infrastructure; and green energy.

Belonging to the industrial - technological pillar, VinMetal is also a fundamental piece, directly supporting the infrastructure pillar - a field in which Vingroup is expanding investment with high-speed railway, bridge, port and logistics projects.

Proactive domestic steel production is expected to not only help the group ensure material supply for large-scale projects, but also strengthen 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://dantri.com.vn/kinh-doanh/vingroup-thanh-lap-cong-ty-san-xuat-thep-vinmetal-von-dau-tu-10000-ty-dong-20251006170102312.htm