Hanoi (VNA) – POSCO Future M, a subsidiary of the Republic of Korea’s POSCO Group, has selected Song Cong II Industrial Park in the northern province of Thai Nguyen to build its first large-scale battery materials plant in Vietnam, according to Viglacera Corporation.
The project will also be POSCO Future M’s first overseas cathode materials production facility, underscoring the growing attractiveness of Vietnam’s industrial ecosystem, particularly amid the ongoing shift in global clean energy supply chains. Following extensive surveys and feasibility studies, the company decided to locate the 37-hectare project at the Viglacera-developed industrial park. With total investment exceeding 400 million USD, construction is expected to begin in the second half of 2026, with operations slated for 2028.
Once completed, the plant will have a designed capacity of 55,000 tonnes per year, serving as a key supplier of battery materials for leading electric vehicle manufacturers in the US, the EU and the Republic of Korea.
Founded in 1968, POSCO Group is one of the world’s leading steelmakers and has expanded into energy, automotive components and battery materials. Its subsidiary, POSCO Future M, is currently the only Korean company capable of producing both cathode and anode materials, playing a critical role in global supply chains for major electronics and EV manufacturers.
A representative of POSCO Future M highlighted Vietnam’s competitive advantages, including lower production and logistics costs compared to regional peers such as Indonesia. The company also cited favourable geological conditions, stable and ample power supply, and modern infrastructure at Song Cong II Industrial Park as key factors behind its decision.
Covering nearly 296 hectares, the industrial park enjoys a strategic location adjacent to the Hanoi–Thai Nguyen Expressway and Ring Road 5, offering efficient connectivity to major manufacturing hubs in northern Vietnam, particularly in electronics and automotive sectors.
Since construction began just over a year ago, the park has attracted a series of high-tech projects in semiconductors, printed circuit boards and modules, many of which are part of supply chains for global corporations such as Samsung.
With more than 25 years of experience in industrial real estate development, Viglacera currently operates 18 industrial parks nationwide and has attracted over 20 billion USD in high-quality investment from global technology leaders, including Amkor Technology, Hyosung, Foxconn, BYD, and Canon.
In the context of the green economy, the firm reaffirmed its commitment to providing ready-built land and smart, sustainable infrastructure, supporting enterprises in integrating into global production networks./.
VNA
