PM pays visit to VNSteel booth at exhibition

May 17, 2024 | 20:48
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VNSteel welcomed Prime Minister Pham Minh Chinh and leaders of several ministries and agencies to its booth at an exhibition to mark Vietnam Science and Technology Day on May 15.

The exhibition was held at the headquarters of the Ministry of Science and Technology (MoST) as part of activities to celebrate the day.

PM pays visit to VNSteel booth at exhibition
A VNSteel representative introduces the company’s plans for 'green steel' to the PM

The event was also attended by Deputy Prime Minister Tran Luu Quang, Minister of Science and Technology Huynh Thanh Dat, leaders of other ministries and agencies, localities, and a number of embassy representatives. The exhibition attracted hundreds of attendees and displayed research results and products in defence, banking, agriculture, industry, transportation, healthcare, social sciences, and humanities.

VNSteel had an opportunity to introduce its plans to convert to 'green steel' to the PM, and the company is looking forward to exchanging the latest research on technology and learning initiatives with its partners.

A company representative said that the business has built a long-term strategy to adapt and minimise CO2 emissions during the production process. "Compared to other domestic steel production enterprises, currently 82 per cent of the company’s crude steel output is from electric furnaces and 18 per cent from blast furnaces. Our production focuses on downstream, so emissions are low compared to the industry average," he said.

VNSteel's sustainable development strategy until 2050 is divided into short-, medium- and long-term goals. To reduce carbon emissions by 5-10 by 2025, it is focussing on operational efficiency and the quality of input materials, while reducing its consumption of coke.

To achieve these goals, the representative said the company needs support from the government and ministries and agencies. VNSteel has proposed increasing expenditure on research and development into green energy sources and renewable energy as input for steel production and applying emission reduction technology.

The group is hoping for preferential policies to develop and apply green technology, along with for mechanisms related to carbon emissions in the steel industry.

As one of the biggest steelmakers in Vietnam, VNSteel is aiming to produce 3.13 million tonnes of finished steel products this year, with consolidated revenue of VND31.5 trillion ($1.31 billion).

April showed positive market signs for VNSteel when consumption of steel products rose 43 per cent on-month and 74 per cent on-year.

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By Bich Thuy

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