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The BOD of Stavian Industrial Metal and Acme Group signed the binding terms for the long-term Green Steel Offtake Agreement on Oct. 6, 2025. Photo courtesy of Stavian Industrial Metal |
Acme Group is recognized for its leadership in sustainable and renewable energy, particularly in large-scale solar power, green hydrogen, green ammonia, low-carbon materials, and low-emission transportation projects.
Under the agreement, the two parties will move forward with an exclusive offtake contract for the Southeast Asian market, under which Stavian Industrial Metal will off-take 800,000 tons per year of green steel (HBI & DRI) for 10 years.
The steel products will be produced at Acme’s Green Steel Plant in Duqm (Oman), with a capacity of 1.2 million tons per year (phase 1). The plant will operate entirely on renewable energy and green hydrogen, with CO2 emissions below 150 kg per ton of steel—among the lowest levels globally.
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Stavian Industrial Metal’s representatives at a site visit to Acme Group’s Green Steel and Green Hydrogen project in Oman. Photo courtesy of Stavian Industrial Metal |
With a robust financial foundation, exceptional operational capabilities, and an ecosystem of over 20,000 partners across more than 100 countries, along with 10 factories, 40 logistics centers, and 30 global offices inherited from Stavian Group, Stavian Industrial Metal continues to strengthen its position as a comprehensive solution provider in the industrial metals supply chain. It is also leading the way in green metal production and sustainable development trends in Vietnam and the region.
Speaking at the signing ceremony, David Nguyen Minh Tu, Chairman of Stavian Industrial Metal, emphasized that the partnership goes beyond a commercial agreement. It reflects both parties’ commitment to achieving net zero goals by 2050 for Vietnam and by 2070 for India.
“With a solid foundation, strong financial capacity, and an ecosystem of over 20,000 customers in more than 100 countries, Stavian Industrial Metal is confident in its ability to partner with Acme to bring world-class green steel products to key markets, promoting sustainability in the global metal industry,” he added.
Manoj Kumar Upadhyay, Chairman of Acme Group, expressed pride in the collaboration, noting that the binding terms are a reflection of both parties’ shared vision and actions toward a low-carbon, sustainable future.
“We are excited to work with Stavian Industrial Metal as the long-term offtake partner for HBI & DRI products under our Green Steel Project in Duqm. This marks an important milestone in ACME’s journey into the green steel sector,” he said.
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Representatives of Stavian Industrial Metal and Acme Group at the signing ceremony. Photo courtesy of Stavian Industrial Metal |
The global green steel market is experiencing strong growth, driven by climate commitments, regulatory requirements, and the accelerating decarbonization of industrial supply chains. As governments and corporations intensify their carbon reduction goals, the demand for low-carbon steel continues to rise, particularly in sectors like automotive, aerospace, renewable energy, petrochemicals, shipbuilding, construction, supporting industries, and consumer goods manufacturing.
Leading economies, including Europe, the United States, and China, are investing heavily in advanced green steel technologies, such as hydrogen-based direct reduction and enhanced steel scrap recycling, to modernize production processes and significantly reduce carbon emissions.
Long-term commitments from global industrial conglomerates to secure sustainable green steel supply are driving a shift toward sustainability and indicating a period of steady, enduring growth for the green steel industry.
“Amid this global transition, the partnership with Acme not only creates long-term commercial opportunities in the green steel sector but also contributes to the global energy transition, reaffirming the role of Vietnamese enterprises in the international green metals supply chain,” stated a representative of Stavian Industrial Metal.
