Vietnam-based VinMetal Joint Stock Company for Manufacturing and Trading has received approval from the province of Ha Tinh for an investment of VND 80 trillion ($3.1 billion) to build a VinMetal steel plant in the Vung Ang Economic Zone, according to local media reports. The project will be one of the largest heavy industry investments in the region.
Planned annual capacity of five million mt
The steel plant will have a designed annual capacity of around five million mt in its initial phase. The plant is expected to produce hot rolled steel, high-strength steel and specialized alloy steel products. These products will serve industries such as electric vehicle manufacturing, transportation infrastructure and construction, supporting Vietnam’s expanding industrial base.
The plant is also expected to help reduce reliance on imported steel while fostering a broader industrial supply chain in the Vung Ang Economic Zone.
Local authorities expect the project to create around 1,000 jobs and contribute to industrial growth and local budget revenues once operational.
