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Sunday, June 23, 2024

DGC to pour VND57.3 trillion in two projects in Dak Nong

The Saigon Times

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HCMC – Duc Giang Chemicals Group JSC (DGC) will invest VND300 billion in a fertilizer factory and VND57 trillion in an aluminum complex in the Central Highlands province of Dak Nong.

At a meeting with leaders of the province, DGC Chairman Dao Huu Huyen said the Duc Giang-Dak Nong fertilizer factory would produce NPK and potassium sulphate fertilizers with a respective capacity of 200,000 and 4,800 tons per year. The factory is expected to be built within 12 months.

As for the aluminum complex project, the Dak Nong government has allowed DGC to survey the location of bauxite mines in Tuy Duc and Dak Song districts and the location for aluminum factories in Thuan Ha and Thuan Hanh communes in Dak Song District.

Under the project, some 14.4 million bauxite ores is expected to be extracted per year and three ore processing factories with a combined annual capacity of 5.8 million tons of ores will be developed.

Once the two projects are in place, they will contribute over VND4.8 trillion to the province’s budget.

Speaking at the meeting with DGC, Luu Van Trung, deputy secretary of the Dak Nong Party Committee, said during the execution of the two projects, DGC must ensure environmental protection, social welfare and fair benefits for local residents and the company.

In March, DGC approved a plan to establish Duc Giang-Dak Nong Chemical Co., Ltd in the Tam Thang Industrial Park in Dak Nong with charter capital of VND300 billion.

Closing the session today, June 13, DGC dropped 4.09% over the session earlier to VND121,800 per share.

Regarding stock trading, the VN-Index of the Hochiminh Stock Exchange lost a staggering 57.04 points, or 4.44%, against the previous session at 1,227.04, with only 38 stocks advancing and 458 others declining. The bourse saw nearly 733.5 million shares valued at over VND18.5 trillion changing hands, up 21.63% in volume and 9.24% in value.

In the VN30 basket, only electricity firm POW was traded in the green with a rise of 1.7%, while the remainder plunged.

Facing the same fate, the HNX-Index of the Hanoi exchange fell 18.08 points, or 5.9%, compared to the previous session at 288.37 with winning stocks outnumbering losing ones by 215 to 17.

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