[SMM Steel] Quang Ngai Explores Steel Investment Cooperation with VNSTEEL

Published: May 29, 2026 19:00

Save

[SMM Steel] Quang Ngai Province and VNSTEEL held discussions on potential steel investment projects in the Dung Quat Economic Zone. Provincial authorities highlighted Dung Quat’s advantages, including its deep-water port infrastructure and established steel industry ecosystem, while indicating readiness to allocate around 15 hectares of land for projects with annual capacities of 500,000-1 million tonnes. The province also pledged support through tax incentives, land policies, and streamlined administrative procedures to attract steel investments and strengthen Vietnam’s steel supply chain.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

[SMM Hot Topic] Against the Backdrop of Declining Global Steel Prices, Chinese Steel Companies See Profit Recovery

2 hours ago

4 hours ago

[SMM Steel] Tata Steel Sees Long-Term Growth Opportunity in India

[SMM Steel] Tata Steel expects India’s steel demand to grow by 7-8% annually over the next 20 years, supported by infrastructure development and industrialization. The company plans to expand its domestic steelmaking capacity to over 40 million tonnes per year and strengthen its presence in the Maharashtra market. More than 60-65% of Tata Steel’s annual capex budget of Rs 20,000 crore will continue to be allocated to India. Meanwhile, the company is enhancing supply chain diversification, scenario planning, and hedging strategies to manage geopolitical risks, while focusing on cost and commercial improvements in Europe amid weak demand and high energy costs.

4 hours ago

[SMM Steel] KFIL to Invest $52 Million to Expand Seamless Tube Capacity

[SMM Steel] India’s Kirloskar Ferrous Industries Limited (KFIL) plans to invest $52 million to increase its seamless steel tube production capacity from 371,000 tonnes/year to 400,000 tonnes/year. The company is also developing solar power projects expected to generate annual savings of around $10 million and plans to complete the integration of Oliver Engineering, a casting and machining company acquired in 2023. The move reflects KFIL’s continued focus on capacity expansion, cost optimization, and downstream value-added steel products.

4 hours ago