The complex comprises Xuan Thien Green Steel Plant No. 1 to be built across the communes of Nghia Hai, Nghia Thanh, and Nghia Lam in Nghia Hung District, and Xuan Thien Green Steel Plant to be constructed in Nghia Hai commune.

The first plant will sit on an area of 284.97ha and have a production capacity of 7.5 million tonnes of green steel per year. The project will have a total investment of VND88 trillion (approx. US$3.45 billion) and will be implemented in three phases.

Its main products will include hot-rolled coil (HRC) steel plates; specialized steel sheets for the automotive industry; weather-resistant steel for container manufacturing, and commercial sponge iron serving both domestic and international markets.

Meanwhile, the second plant, to be built on 83.93ha with a total investment of VND10 trillion (approx. US$392 million), will produce finished steel from recycled scrap steel, using electric arc furnace (EAF) technology and continuous casting and rolling processes, with a planned capacity of 2 million tonnes per year.

This is the first green steel complex to be developed in Vietnam, applying world-class advanced technology. Unlike conventional steel production, the complex does not use coke, but instead utilizes liquefied natural gas (LNG) for iron oxide reduction, with plans to transition to hydrogen in the future. This shift is expected to cut CO₂ emissions by up to 86%.

According to the planned schedule, the first steel products from the complex are expected to be produced by June 2028, with full completion of the entire project targeted for June 2030. Once operational, the complex is projected to contribute approximately US$785 million annually to the State budget and create over 21,000 jobs, boosting employment and local economic development.

Speaking at the groundbreaking ceremony, Deputy Prime Minister Le Thanh Long noted that this is a project of great significance, as it will make a positive contribution to local and regional socio-economic development once it is operational.

He affirmed that the project reflects the proactive and meaningful role of the private sector in national development in line with the policies and legal framework of the Party and the State promoting private sector development.

The Deputy Prime Minister requested that the local administration provide maximum support and favourable conditions for project implementation, and closely monitor legal compliance and environmental protection, with a focus on improving the living standards of people in the project area.

He also urged the investor, contractors, and supervisory consultants to maximise the use of resources, apply modern and advanced construction technologies, and accelerate the construction timeline, to ensure the project is brought into operation as early as possible to deliver investment efficiency, create jobs and livelihoods, and generate income for local workers.

Opportunities for aluminum and steel exports amid US 25% tariff

VOV.VN - The US decision to impose an additional 25% tariff on imported aluminum and steel is anticipated to significantly impact global trade, but Vietnam still has opportunities to sustain its exports to this major market.