Stavian Industrial Metal and ACME Group sign binding terms for green HBI/DRI offtake agreement
Under the agreement, the parties will proceed to an exclusive off-take contract for the Southeast Asian market, with Stavian Industrial Metal taking 800,000 tonnes per year of green steel materials (HBI/DRI) for 10 years.
The BOD of Stavian Industrial Metal and ACME Group sign binding terms for a long-term Green Steel Material Offtake Agreement. — Photo courtesy of Stavian Industrial Metal
HÀ NỘI — Stavian Industrial Metal JSC and India's ACME Group have signed binding terms for a long-term green steel materials (HBI and DRI) off-take agreement in the United Arab Emirates (UAE).
ACME Group is globally recognised for its large-scale solar power, green hydrogen, green ammonia, low-carbon materials and low-emission transportation projects.
Under the agreement, the parties will proceed to an exclusive off-take contract for the Southeast Asian market, with Stavian Industrial Metal taking 800,000 tonnes per year of green steel materials (HBI/DRI) for 10 years.
The products will be produced at ACME’s Green Steel Plant, with a capacity of 1.2 million tonnes per year (phase 1), using entirely renewable energy and green hydrogen, with CO2 emissions among the lowest in the world.
With strong resources and a global network of over 20,000 partners across more than 100 countries, Stavian Industrial Metal is positioning itself as a comprehensive industrial metal solution supplier and a pioneer in green, sustainable development in Vietnam and the region.
Chairman of Stavian Industrial Metal David Nguyen Minh Tu said: “The partnership between Stavian Industrial Metal and ACME is not merely a commercial agreement, but a testament to our shared commitment to realising the Net Zero goals by 2050 for Vietnam and by 2070 for India.”
According to Mr. Manoj Kumar Upadhyay, Chairman of ACME Group: “Our green HBI and DRI project underscores ACME’s unwavering commitment as a leader of clean technology solutions in India. We take pride in spearheading innovation within the clean energy sector including green hydrogen and derivatives. We are delighted to establish a long-term partnership with Stavian Industrial Metal to deliver sustainable solutions to hard-to-abate sectors such as steel manufacturing. Our greenfield facility will produce some of the lowest carbon emission green HBI and DRI products. This collaboration marks a significant milestone in ACME’s integration of green steel into our portfolio as part of our strategic business expansion.”
The global green steel market is growing rapidly as governments and major corporations push decarbonisation, driving strong demand across key industries. Leading economies are investing in advanced technologies to cut emissions and secure sustainable steel supply.
In this context, the Stavian Industrial Metal – ACME partnership creates long-term commercial opportunities and highlights Việt Nam’s emerging role in the global green metals supply chain. — BIZHUB
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