Vingroup enters metallurgy industry with VinMetal establishment

Vingroup has officially entered Vietnam’s metallurgy sector with the launch of VinMetal Joint Stock Company for Manufacturing and Trading, marking a major expansion of its industrials and technology pillar.

VinMetal, established with an initial investment of VND10 trillion ($380 million), plans to build a high-tech steel production complex in Vung Ang, Ha Tinh Province. Phase 1 will have a capacity of about 5 million tons per year, focusing on producing hot-rolled, high-strength, and specialised alloy steels for electric vehicles and transportation infrastructure.

Its flagship products include sheet steel, stamped automotive body steel, and international-standard rails and structural steel for bridges, ports, and railways. These products aim to reduce reliance on imports and eventually serve regional export markets.

VinMetal will initially supply materials for Vingroup’s ecosystem, including Vinhomes and VinFast, while supporting national projects such as the North–South high-speed railway and proposed high-speed lines linking Ho Chi Minh City to Can Gio and Hanoi to Quang Ninh.

According to Nguyen Viet Quang, Vice Chairman and CEO of Vingroup and CEO of VinMetal, the company represents “a strategic step toward a modern, green, and sustainable industrial future.”

Although smaller in scale than Hoa Phat Group, VinMetal’s focus on green, high-tech steel positions it as a new force in Vietnam’s heavy industry.