The government of the Vietnamese province Thua Thien Hue has announced it has begun inviting investors for the construction of the Chan May green steel project, following the approval of the People’s Committee of Thua Thien Hue province. The total investment capital for the project is about VND 32 trillion ($1.29 billion), with the capital contribution at least 15 percent of the total investment capital. The deadline for the investors to submit their applications has been set for September 26.
Within the scope of the project, which will be implemented on a land of about 236.5 hectares in the duty-free Chan May - Lang Co Economic Zone, a hot rolled coil (HRC) and high-quality engineering steel plant with a production capacity of approximately 3 million mt per year is planned to be constructed. Based on modern technologies, the project will utilize electricity and clean fuels such as natural gas, as well as scrap steel, pig iron and sponge iron as raw materials for the production.
The construction of the project is expected to begin in the first quarter of 2025, with the project completion and operation scheduled for the first quarter of 2028. Also, the construction is planned to be completed within 33 months following the date of commencement.
The maximum lifespan of the project will be 70 years.