HÀ NỘI — Deputy Prime Minister Lê Thành Long attended the groundbreaking ceremony of the Nam Định Green Steel Complex Project by Xuân Thiện Group, with a total investment of over VNĐ98 trillion (US$3.7 billion) in Nghĩa Hưng District, Nam Định Province on Monday.

The project will have an annual capacity of 9.5 million tonnes of steel, using electricity, natural gas and eventually green hydrogen to reduce CO2 emissions in the steelmaking process, replacing traditional coke-based technologies to minimise environmental impact.

The facility's main products will be high-quality steel, which has not yet been produced domestically.

According to plans, the first steel product is expected to be made by June 2028, with the entire complex scheduled for completion by June 2030.

Once operational, the project complex will contribute about VNĐ20 trillion annually to the State budget and create jobs for over 21,000 workers.

At the groundbreaking ceremony, Deputy PM Long emphasised the significance of the project.

When implemented, it is expected to positively contribute to the socio-economic development of the local area and the region.

Since the beginning of the current term, Nam Định has attracted 340 projects with a total registered capital of approximately VNĐ145 trillion. — VNS