With a substantial investment capital of $4.3 billion, the company aims to establish a high-tech industrial steel production complex in Vung Ang, Ha Tinh, targeting an annual capacity of 5 million tons in phase one.
VinMetal will focus on producing civil construction steel, hot-rolled steel, high-strength steel, and specialty alloy steel for electric vehicle manufacturing and high-speed transportation infrastructure. Key products include high-quality sheet metal and car body stamping steel, railway tracks, and structural steel for bridges, ports, and railways, all meeting international standards. These efforts aim to replace imports and gradually expand exports across the region.
The establishment of the steel production company primarily serves to meet the material demands of Vingroup’s core sectors, such as Vinhomes real estate and VinFast electric vehicle production. Additionally, Vingroup seeks to secure a reliable supply of high-quality steel for proposed industrial, energy, and transportation projects, including the North-South high-speed railway, the Ho Chi Minh City – Can Gio route, and the Hanoi – Quang Ninh line.
Through VinMetal, Vingroup aims to secure a high-quality steel supply for future industrial, energy, and transportation infrastructure projects.
Long-term, the company aspires to lead the domestic market in green steel production, employing carbon emission reduction technologies and renewable energy reuse. This commitment supports the growth of the metallurgical industry and Vietnam’s heavy industries.
Mr. Nguyen Viet Quang, Vice Chairman of the Board and CEO of Vingroup, who also serves as CEO of VinMetal, stated, “VinMetal is more than a steel production facility; it’s a strategic step toward a modern, green, and sustainable infrastructure future for Vietnam. Vingroup believes that developing foundational industries will propel the nation into a new era of development, where Vietnamese expertise drives technology, materials, and the execution of key national projects.”
The launch of VinMetal Production and Trading Joint Stock Company marks a significant milestone in Vingroup’s five-pillar development strategy: Technology – Industry; Commerce – Services; Social Welfare; Infrastructure; and Green Energy.
As part of the Industry – Technology pillar, VinMetal also serves as a foundational component supporting the Infrastructure pillar, where Vingroup is expanding investments in high-speed railways, bridges, ports, and logistics. Domestic steel production not only ensures a stable material supply for large-scale projects but also strengthens Vietnam’s heavy industrial capabilities, enhancing national competitiveness and global standing.
This initiative underscores Vingroup’s dedication to serving Vietnam and its commitment to building a sustainable industrial – energy – infrastructure value chain, fostering long-term prosperity for the nation.
Tech Tycoon Pham Nhat Vuong Enters Advanced Steel Arena, Crafting Armor for VinFast, Rivaling Billionaire Tran Dinh Long’s High-Speed Rail Steel Ventures
When comparing VinMetal to other steel manufacturers in the Vietnamese market, it becomes evident that Hòa Phát is the closest competitor in terms of product similarity.
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Vingroup Invests $430 Million to Establish VinMetal, Aiming to Produce World-Class High-Standard Metals
VinMetal is set to become the primary steel supplier for VinFast, Vinhomes, and numerous other high-profile projects, ensuring top-tier quality and reliability across all endeavors.
Vingroup Establishes Subsidiary with $430 Million Capital
Vingroup’s Board of Directors has approved the establishment of VinMetal, a new venture with a chartered capital of VND 10,000 billion. VinMetal will specialize in the production and trade of iron and steel, marking a significant expansion into the metals industry.
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Vinhomes Green Paradise stands as the pinnacle of 2025’s real estate achievements, boasting a sprawling expanse three times the size of the former District 1 and a staggering investment of over $9 billion. To bring this visionary project to life, Vingroup dedicated 21 years to navigating intricate legal frameworks and meeting stringent environmental impact assessments, ensuring a development that redefines luxury and sustainability.
