Stavian Industrial Metal and ACME Group sign binding terms for long - term green HBI & DRI offtake agreement
On October 6th, 2025, in the United Arab Emirates (UAE), Stavian Industrial Metal Joint Stock Company (Stavian Industrial Metal) and ACME Group – one of India’s leading business house pioneering sustainable innovations, signed binding terms for a long-term green steel materials (HBI & DRI) off-take agreement.
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| The BOD of Stavian Industrial Metal and ACME Group signed the binding terms for the long-term green HBI & DRI offtake agreement. (Photo: Stavian Industrial Metal) |
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 transportation projects.
According to the agreement, following the signing of the binding terms, the two parties will proceed to 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 materials (HBI & DRI) for a period of 10 years. The products will be produced at ACME’s Green Steel Plant with a capacity of 1.2 million tons per year (phase 1), using entirely renewable energy and green hydrogen, with CO₂ emissions among the lowest levels in the world today.
With a solid financial foundation, outstanding operational capability and an ecosystem of more than 20,000 partners across over 100 countries, along with 10 factories, 40 logistics centers and 30 global offices inherited from Stavian Group, Stavian Industrial Metal is affirming its position as a comprehensive solution provider for the industrial metals supply chain, while pioneering green metal and sustainable development trends in Vietnam and the region.
Speaking at the signing ceremony, Mr. David Nguyen Minh Tu – Chairman of Stavian Industrial Metal emphasized: “The partnership between Stavian Industrial Metal and ACME is not merely a commercial agreement, but a testament to our shared commitment to realizing the Net Zero goals – by 2050 for Vietnam and by 2070 for India.
With a strong foundation, solid financial capacity and an ecosystem of more than 20,000 customers in over 100 countries, Stavian Industrial Metal is confident to accompany ACME in bringing world-standard green steel products to key markets, thereby contributing to promoting the sustainable development trend in the global metal industry.”
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.”
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| Representatives of Stavian Industrial Metal and ACME Group took a commemorative photo after the signing ceremony, marking an important milestone in their strategic partnership. (Photo: Stavian)
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Amidst the strong global growth of the green steel market - driven by climate commitments, regulatory requirements, and the accelerating decarbonization of industrial supply chains - the demand for low-carbon steel has been rising sharply. Governments and major corporations worldwide are intensifying their carbon reduction goals, fueling a surge in green steel demand across key sectors such as automotive, aerospace, renewable energy, petrochemicals, shipbuilding, construction, supporting industries, and consumer goods manufacturing.
Leading economies including Europe, the United States and China are making large-scale investments in advanced green steel technologies - notably hydrogen-based direct reduction and enhanced steel scrap recycling to modernize production processes and significantly reduce carbon emissions. At the same time, the strengthening long-term commitments from global industrial conglomerates to secure sustainable green steel supply are driving a profound transition toward sustainability and signaling a period of robust, stable and enduring growth for the green steel industry.
Within this global shift, the partnership between Stavian Industrial Metal and ACME not only opens up long-term commercial opportunities in the green steel sector but also contributes to the global energy transition, reaffirming the pioneering role of Vietnamese enterprises in the international green metals supply chain.
