Vingroup has officially entered the steel industry with the establishment of VinMetal Joint Stock Company for Manufacturing and Trading.
The company will invest VND 10 trillion (≈ USD 379 million) to build a high-tech steel production complex in Vũng Áng, Hà Tĩnh, with an initial capacity of 5 million metric tons per year.
The new facility will produce a diverse range of high-quality steels — including hot-rolled, high-strength, specialized alloys for EVs, automotive steel, and structural steels — to meet domestic infrastructure needs and support future export plans.
VinMetal also aims to become a leader in green steel production, applying carbon-reducing technologies and renewable energy. This strategic move is expected to strengthen Vietnam’s industrial base and reduce reliance on imports.
VietnamSteel by Hoa Sen Group
