STAVIAN INDUSTRIAL METAL SIGNS MOU STRATEGIC PARTNERSHIP WITH ACME GROUP IN ANTICIPATION OF GLOBAL GREEN STEEL TRENDS

On June 19, 2025, at Stavian Group headquarters (Century Tower, Hanoi), Stavian Industrial Metal Joint Stock Company signed a Memorandum of Understanding (MoU) with ACME Group (India), establishing a strategic partnership in the green steel trade for the Vietnamese market.

ACME Group is one of India’s leading global sustainable and renewable energy companies, particularly known for its large-scale solar power, green hydrogen, green ammonia, low-carbon materials and low-emission transport projectsThe Group is currently investing in the construction of a large-scale green steel complex in Oman (Middle East), which will include a direct reduced iron (DRI) plant, electric arc furnace (EAF) and a continuous casting slab caster, scheduled for commercial operation starting in 2028.

The partnership agreement was signed in the context where global climate policies – particularly the European Union’s Carbon Border Adjustment Mechanism (CBAM), expected to take effect on January 1, 2026 – are significantly accelerating the demand for green transition among enterprises involved in the supply and trade of key commodities such as iron, steel, cement, fertilizers, aluminum, electricity and hydrogen. According to Fastmarkets’ 2023 forecast, global demand for Hot Briquetted Iron (HBI) could reach 140 million tons by 2026 and 268 million tons by 2040, with Asia (excluding China) accounting for 40–45%. Environmentally friendly products like slabs produced via EAF technology and green steel, especially HBI, will become crucial solutions for businesses seeking to enhance long-term international competitiveness.

Under the MoU, ACME commits to granting Stavian Industrial Metal a Right of First Offer (ROFO) in Vietnam and several strategic regions. Stavian Industrial Metal will act as an exclusive offtake and distribution partner for green HBI and green slabs from ACME within the domestic market. This marks a significant step toward the formation and development of Vietnam’s green steel market.

More than a commercial agreement, the partnership between Stavian Industrial Metal and ACME reflects the shared responsibility to achieve Net Zero emissions by 2050 for Vietnam and 2070 for India – and jointly fostering a sustainable steel industry, working toward a greener future for Vietnam, India, and the world./.