Steel – The Core of Modern Construction

Strategic partnership to drive green steel production in Asia

ACME Group (India) and Stavian Industrial Metal (Vietnam) have signed a binding term sheet for a 10-year long-term sale and purchase agreement involving 0.8 million tonnes per annum (MTPA) of green Hot Briquetted Iron (HBI) and Direct Reduced Iron (DRI).

Under the agreement, ACME will supply the materials from its planned 1.2 MTPA Green HBI & DRI Plant (Phase 1), utilizing green hydrogen produced at its own facility to support the manufacturing of green steel.

Joint commitment to a sustainable steel future

Mr. Manoj Kumar Upadhyay, Chairman of ACME Group, stated:

“Our Green HBI and DRI project reaffirms ACME’s strong commitment to advancing clean technology solutions in India. We take pride in pioneering innovation within the renewable energy sector — especially in green hydrogen and its derivatives. Our long-term partnership with Stavian Industrial Metal will deliver sustainable solutions to hard-to-abate sectors such as steel manufacturing.”

From Stavian’s side, Mr. David Nguyen Minh Tu, Chairman of Stavian Industrial Metal, emphasized:

“The partnership between Stavian and ACME is not merely a commercial deal, but a shared responsibility toward achieving Net Zero goals — by 2050 for Vietnam and 2070 for India. With a solid foundation, strong financial capacity, and an ecosystem of over 20,000 customers across more than 100 countries, Stavian is committed to collaborating with global partners to build a more sustainable and greener steel industry for the shared future of Vietnam, India, and the world.”

Global green steel market accelerates the transition

The global green steel market is witnessing rapid transformation, driven by stronger climate commitments, tightening environmental regulations, and rising demand from industries aiming to decarbonize their manufacturing processes and supply chains.

About the Companies

ACME Group is a leading Indian energy company, pioneering green hydrogen and clean technology projects to support industrial decarbonization.

Stavian Industrial Metal is a Vietnamese corporation specializing in the processing, investment, and trading of industrial metal materials, serving over 20,000 customers in more than 100 countries worldwide.

📖 Source: The Times of India (TNN), October 13, 2025