Vingroup’s VinMetal partners with Primetals for green steel complex in central Vietnam

Vingroup’s subsidiary VinMetal has signed a strategic cooperation agreement with global steel giant Primetals Technologies to develop a large-scale integrated steel complex in central Vietnam.

The agreement, inked on Thursday, covers the development of a steel production complex in Ha Tinh province that will manufacture both long steel and flat steel products using advanced, digitalized, and lower-emission technologies aligned with international standards.

Under the deal, Primetals Technologies will act as the project’s overall technology integrator, supporting VinMetal across the entire production chain from ironmaking and steelmaking to rolling finished steel products.

The company will also coordinate technical interfaces among EPC contractors and individual project packages to ensure seamless integration across the large industrial complex.

Pham Nhat Quan Anh, CEO of VinMetal, said the partnership is aimed at building one of the region’s most modern and synchronized steel complexes while adhering to international ESG standards.

He said cooperation with Primetals would help reduce technical integration risks in a multi-contractor implementation model while accelerating project development through early-stage standardization of technology and financing solutions.

The two sides also plan to cooperate in workforce training, plant operations, and maintenance, as well as digital transformation initiatives aimed at improving long-term operational efficiency and sustainability.

Kosei Tsuji, executive vice president at Primetals Technologies, said the combination of the company’s technological expertise and VinMetal’s strategic vision could create an advanced and sustainable steel production hub in Vietnam.

VinMetal is currently developing a steel manufacturing project at the Vung Ang Economic Zone in Ha Tinh province, one of Vietnam’s key heavy industrial centers. It aims to begin operating the first phase of the project in 2027.

The steel complex is expected to produce high-grade steel products serving domestic infrastructure and industrial demand while also targeting export markets.

Primetals Technologies was formed through the merger of Germany’s Siemens VAI and Japan’s Mitsubishi-Hitachi Metals Machinery and is currently owned by Mitsubishi Heavy Industries.

The VinMetal partnership marks another major industrial investment linked to Vingroup, Vietnam’s largest private conglomerate, which has expanded aggressively from real estate into manufacturing, electric vehicles, technology, and heavy industry in recent years.