Tuesday,  Sep 25, 2018,06:12 (GMT+7) 0 0
Vietnam to support largest mining project in Laos
The Saigon Times Daily
Wednesday,  Sep 12, 2018,18:04 (GMT+7)

Vietnam to support largest mining project in Laos

The Saigon Times Daily

Phuong Minh Hue, general director of Viet Phuong Investment Group, exchanges papers detailing the agreement with Suphan Keomisay, Lao Minister of Planning and Investment – PHOTO: VNA

HCMC – The Lao Government and Vietnam’s Viet Phuong Investment Group signed a contract on September 11 to exploit and process bauxite ore and build an alumina plant in the Sekong province of Laos.

With an estimated investment of US$650 million, this will be Vietnam’s largest mining project in the neighboring country, reported the Vietnam News Agency.

The project covers roughly 100 square kilometers of land in Dak Cheung, a district of Sekong Province in southeastern Laos. It falls within the scope of the agreement on economic, scientific, technical and cultural cooperation between the Vietnamese and Lao governments.

The project not only matches the local master plans for socioeconomic development and the expansion of relevant basic infrastructure but will also help guarantee security and defense in areas with bauxite mines, particularly in Sekong Province and the Cambodia-Laos-Vietnam Development Triangle Area.

Phuong Minh Hue, general director of Viet Phuong Investment Group, said at the signing ceremony that the successful execution of the project will contribute to the development of the Lao economy, help increase the proportion of industry in the local economy and boost the industrialization and modernization of the country.

Hue called for more support from Lao authorities and local communities for the effective execution of the project. She pledged that her company was determined to carry out the project successfully to help fulfill the two countries’ socioeconomic development cooperation program objectives and reinforce their special friendship.

Once operational, the project is expected to create thousands of jobs for local people and contribute millions of U.S. dollars to the Laos budget every year.

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