Authorities in Ha Tinh province, Vietnam, have approved a major investment project by VinMetal Joint Stock Company for Manufacturing and Trading to build a large steel production facility in the Vung Ang Economic Zone.
According to local media reports, the project will involve total investment of approximately VND 80 trillion (about $3.1 billion), making it one of the largest heavy-industry investments in the region.
Planned production capacity of 5 million tons per year
In its initial phase, the planned steel plant will have annual production capacity of around 5 million metric tons.
The facility is expected to manufacture hot-rolled steel, high-strength steel, and specialized alloy steel products, serving industries including electric vehicle manufacturing, transportation infrastructure, and construction.
The project is also expected to reduce Vietnam’s reliance on imported steel products while supporting the development of a broader industrial supply chain within the Vung Ang Economic Zone.
Economic impact and employment
Local authorities estimate that the project could create around 1,000 jobs once operational, while also contributing to regional industrial growth and increased local budget revenues.
The investment forms part of Vietnam’s broader efforts to expand domestic steel production capacity and strengthen its role in regional manufacturing supply chains.
VietnamSteel by Hoa Sen Group
