The Chan May-Lang Co Economic Zone in Thua Thien-Hue province (Source: The Investor)

According to the announcement form the provincial Management Board of Economic Zones and Industrial Parks, the Chan May Green Steel Factory project will cover 236.5 hectares and focus on producing hot-rolled coil (HRC) and high-quality technical steel with a total capacity of 3 million tonnes per year.

The project has an estimated cost of 32 trillion VND with the investor is expected to pay at least 15%.

The project will have a lifetime of 70 years and is expected to begin construction in the third quarter of 2025 and put into operation after 36 months.

The Chan May Green Steel Factory will use advanced technologies from developed countries in the EU, G7 and G20 as well as maximise the use of clean energy in production. Wastewater from the site will be recycled entirely.

Interested investors can submit proposals to the Management Board before September 26.

In March, the central province called for investments into 112 projects in the Chan May – Lang Co Economic Zone in 2024-15 period with a total investment of up to dozens of trillions of VND, including the Chan May Green Steel project.