Nearly VND 10 Trillion Stainless Steel Plant
According to Ha Tinh Newspaper, Pham Van Tinh, Deputy Head of the Provincial Economic Zone Management Board, signed a decision on January 19, 2026, approving the investment policy and investor for the Stainless Steel Plant project in Vung Ang Economic Zone, Hoanh Son Ward (Ha Tinh).
The project is undertaken by three investors: SINGVIN ASSET MANAGEMENT (SINGAPORE) PTE. LTD., LAND RIVER HOLDINGS PTE. LTD (SINGAPORE), and Son Ha Dong Nai Industrial Park Investment Joint Stock Company.
The Stainless Steel Plant will be located in Hoanh Son Ward, covering an area of over 66 hectares with a total investment of VND 9.8 trillion.
The plant will produce stainless steel coils with thicknesses ranging from 2.5 mm to 5 mm and widths from 1,000 mm to 1,580 mm, including stainless steel grades 200, 300, and 400, with an annual capacity of 2,000,000 tons. The hot rolling line will have a capacity of 1,950,000 tons per year.
The project utilizes three main production lines: steelmaking, continuous casting, hot rolling of steel billets, acid pickling, and hot-rolled coil annealing.
– Phase 1 (construction and installation of the hot rolling line with a capacity of 1,950,000 tons/year, hot acid pickling line, and auxiliary facilities): Completion within 36 months from the date the investor receives the leased land from the State and takes possession of the actual site.
– Phase 2 (construction and installation of the stainless steel billet production line with a capacity of 2,000,000 tons/year, hot acid pickling line, and auxiliary facilities): Completion and operation within 36 months from the completion of Phase 1.
Two Foreign Members in the Consortium
The first foreign member is SINGVIN ASSET MANAGEMENT (SINGAPORE) PTE. LTD., a Singapore-based asset management company established in 2017, specializing in portfolio management and capital investment. Singvin’s involvement likely focuses on financial investment, structuring capital, and resources for the project.
The second foreign member is LAND RIVER HOLDINGS PTE. LTD., also registered in Singapore since 2017. Unlike Singvin, this company operates in trade and distribution, focusing on steel products, particularly stainless steel. Land River’s participation is expected to provide advantages in supply chains, market consumption, and trade networks, beyond mere capital contribution.
Remaining Vietnamese Company in the Consortium
The domestic partner is Son Ha Dong Nai Industrial Park Investment Joint Stock Company, a Vietnamese enterprise specializing in infrastructure development and industrial park investment.
This company was established in May 2021 by Son Ha Group with a charter capital of VND 200 billion. As of the end of 2024, Son Ha Group holds 30% of the company’s charter capital (according to the 2024 Annual Report).
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