VinMetal plans to import one million tonnes of steel to serve production

VinMetal Production and Trading JSC, a subsidiary of Vingroup, has announced plans to import around one million tonnes of steel annually to support its Ha Tinh steel plant. One of the key aspects of the investment project is the sourcing of raw materials. To meet this requirement, the company intends to import approximately 950,000 tonnes of scrap steel each year, which will be transported to the factory by sea and stored outdoors.

This approach forms part of a comprehensive closed steel production chain, involving multiple stages such as coke production, ore pelletization, sintering, iron smelting, steelmaking, continuous casting, and steel rolling. The finished product is projected to be three million tonnes of hot-rolled coil steel annually, along with 1.4 million tonnes of steel bars and 600,000 tonnes of steel wire.

Furthermore, the project is expected to generate by-products such as 1.7 million tonnes of finely ground granulated blast-furnace slag and 800,000 tonnes of secondary-processed slag cement yearly. Construction of the plant is slated to commence in the fourth quarter of the current year and commence operations in the first quarter of 2031, with an estimated construction period of 48 months.

VinMetal recently signed a strategic partnership agreement with Primetals Technologies to construct a large integrated steel complex in Ha Tinh province. The collaboration aims to facilitate the production of both long and flat steel products, utilizing standardised technological solutions from the outset to expedite the project.