One of the country’s leading steel manufacturers is celebrating a quarter of a century at the top, with plans in the works to aim for higher capacity and more state-of-the-art technology with a brand new mill in northern Vietnam in the next five years.
The year 2019 marks 25 years since Vinausteel, under the brand name Thep Viet Uc, began operations in Vietnam. With output of more than four million tonnes of steel bars to meet market demand, the company has been helping to develop the steel market of Vietnam by circulating inland steel products instead of imported ones.
Vinausteel, a large steel production joint venture founded in 1994, saw 70 per cent of its investment fund come from Australia’s Vietnam Industrial Investment Pty. Ltd., and the remainder from Vietnam Steel Corporation. It is headquartered in the northern city of Haiphong’s Hong Bang district.
According to general director Tran Tuan Anh, the Haiphong mill will cease operation in 2024 after 30 years of business. To abide with the development of Haiphong, Vinausteel will build a new mill with higher capacity and top-of-the-market modern tools and technologies to further preserve the environment and build high-quality products at competitive prices. Anh believed that the group has a bright future in the journey ahead, with its position as a leading steel producer in Vietnam.
Anh said that improvement of tools and technologies has always been a priority for investment in order to increase productivity, improve quality of goods, and reduce prices. The group’s motto of “Quality makes Prosperity” is criteria which Vinausteel has selected and grown since the first days of establishment.
“In the most difficult times, especially in recession years around 1997 and 2008, even though we had to face difficulties and imbalance between supply and demand, Vinausteel still ensured stable production capacity and continuously provided good quality products to the market. The quality is a fundamental basis for our success today,” Anh said.
Vinausteel has been known as one of the top brand names in Vietnamese steel for many years. The mill’s production capacity is from 250,000 to 300,000 tonnes per annum of mainly hot rolled reinforced bars with sizes ranging from 10-32 millimetres and wire rods ranging from 6-8mm. Products are strictly controlled under the quality management system ISO9001 and conform to both Vietnamese and international standards. The group continues to work towards being a sustainably developing corporation of national scale, in the grand scheme of both the regional and global economy.
After 25 years of development, the company’s production capacity, sales, revenues, and national budget contributions have boasted steady development. The mill obtained one million tonnes in 2003, two million in 2009, three million in 2015, and four million tonnes in May this year. Last year the company launched its new product – steel wire rods CB240-T with diameter of 6-8mm, enhancing the mill’s competitiveness in the steel market and improving business performance.
Vinausteel is also a pioneering company when it comes to sustainable growth, with its development aligned with the environment and the community around it. The firm has invested in environmental preservation-related costs such as wastewater and exhaust fume processing, using clean energy in production to conform to the strictest environmental requirements of international standards.
Due to sustainable investment with modern technologies, Vinausteel has cemented its place in the steel market in the north of Vietnam, especially in the regions of Hanoi, Haiphong, Quang Ninh, Hai Duong, Thai Binh, Bac Ninh, and Nam Dinh.
The reputation of Vinausteel has been illustrated over the years. The company won the Asia Pacific international quality award in the US in 2000, the Innovative Corporation Award in 2014, and has been a representative corporation of Haiphong for several consecutive years. Products of Vinausteel are used to build the dream homes of many people, and its products have been chosen for important national-scale projects such as National Highway 5, Nghi Son Cement Factory, Hanoi’s Ciputra residential area, My Dinh stadium, National Highway 1A, and the Hanoi-Lao Cai highway, as well as the bridges of Nhat Tan, Vinh Thinh, My Thuan, Vinh Tuy, Thanh Tri, and Bai Chay.
Alongside its business operation, the board of management has also focused on training employees to improve their knowledge and working skills. Vinausteel has contributed much to social activities as well as communities across the whole country. In past years, the group has sponsored charity activities directly or indirectly through social organisations. They include activities for people with disabilities, orphans, people in areas damaged by floods, and war veterans. Often events include building social houses for Vietnamese heroes’ families, and providing educational programs in Haiphong and further afield.
Since its first day of operation, Vinausteel has reached encouraging achievements. Moving into a new chapter, the group will continue to provide high quality products to the market, so as to contribute to the future of the country’s construction. To mark a fresh new direction in vision, the company changed its brand recognition in 2016, with new presentation and colour in order to better conform to a new phase of development.
The company’s newest motto of “Bud in Steel, Stability in Future”, in which the bud is one of a plant that develops into a flower, symbolises the start of a new life as well as the meaning of wealth and luck.
To recognise the contribution of Vinausteel’s employees to the overall development of Vietnam, the government and authorities of Vietnam have given the company many privileged awards. Vinausteel was awarded the Third-Class Labour Medal in 2001, Second-Class Labour Medal in 2004, and First-Class Labour Medal in 2010.