On January 6, 2024 (November 25, Quy Mao year), at Duc Thuan Industrial Park – Long An province, Dieu Thinh Stainless Steel Joint Stock Company held a groundbreaking ceremony to start the construction project of Dieu Thinh Factory Phase 2.
Attending at the ceremony were the representative of the Investor – Mr. Luu Tuan Ton, Chairman of the Board of Directors of the company and all members of the Board of Shareholders, representatives of the General Contractor – Dieu Long Construction Trading Co., Ltd. and all members of the supervision consultants, project commanders and unit/department managers.
The project is located in a prime location in Duc Thuan Industrial Cluster, My Hanh Bac Commune, Duc Hoa District, Long An Province – a place with a good investment environment, complete synchronous infrastructure and abundant, highly skilled labor.
In 2019, the inauguration ceremony of Dieu Thinh factory phase 1 was officially held with an area of 14,500 m2, maximum output of 20,000 tons/year and has maintained stable operations and continuous growth up to the present time.
The project has a total area of nearly 20,000 m2 with an investment capital of 360 billion VND, of which phase 1 is 150 billion VND & phase 2 is 260 billion VND. Currently at the present time (phase 1 of the project), the production capacity of the existing factory is 20,000 tons of products/year. It is expected that when phase 2 is completed, Dieu Thinh Factory will reach a total production capacity of 60,000 tons of products/year.
The main products of the factory are stainless steel products, alloy steel ingots and stainless steel scrap pressed from recycled scrap to serve the domestic and export markets.
Dieu Thinh Stainless Steel Joint Stock Company has more than 10 years of experience in the production of billets and alloy steel ingots with a team of experienced staff in surveying, researching, analyzing and evaluating market data. We see that Vietnam’s import output from other countries is an abundant source of scrap resources in the country. From the results of the market survey, Dieu Thinh sees that the import and production of stainless steel raw materials from Vietnam will create an extremely abundant source of scrap resources. The rate of scrap discharged during the stainless steel production process is estimated at 3 – 5% from processing, cutting, cleaning, etc.
Up to now, in the Vietnamese market, there are very few foundries and steel mills that need to use scrap from the steel and stainless steel production process. Therefore, most of the remaining scrap will be exported to other countries such as China and India. This is a waste of the country’s rich and abundant resources and is also a huge disadvantage for the socio-economic development of Vietnam.
In addition, Dieu Thinh has obtained a scrap import license (the third and final one) from Long An province, Vietnam. The stainless steel scrap industry is limited by the environmental protection law of the Vietnamese Government. If the supply of stainless steel scrap in Vietnam is not enough, Dieu Thinh has full licenses to import scrap to meet market demand. This is the great competitive advantage that Dieu Thinh has had and is having.
The ideal and goal of the Project Management Board is to create revenue for the national economy by utilizing low-value scrap to produce high-value products, contributing to the country’s key export turnover. At the same time, the project also emphasizes the goal of contributing to the socio-economic and environmental development of the locality in particular and the country in general.
