Thaco proposed to build a circular economic complex project related to bauxite mining and processing in Lam Dong, with a total capital of more than 100,000 billion VND.
Lam Dong Provincial People's Committee said it received a report on the research results of the THACO Circular Economic Complex project of Truong Hai Group.
This project is called Lam Dong 2 Alumina Plant, expected to be implemented in Bao Lam, Da Huoai, Da Teh districts and Bao Loc city. The project aims to develop in the direction of a "circular economic complex", creating a value chain of bauxite mining, alumina processing, environmental restoration, agricultural planting and eco-tourism.
The total investment of the project is more than 103,000 billion VND, of which equity accounts for 30% (about 30,907 billion), the remaining 70% is loan capital, equivalent to 72,117 billion VND.
Truong Hai proposed to invest in bauxite mining and alumina processing plants with a capacity of about 4 million tons of alumina per year. The project is divided into three phases, implemented over 10 years and expected to be operational from 2034.
The project has a 50-year operating period, of which bauxite mining is 20 years. For the remaining time, Thaco will use raw materials from outside for processing and operation.
Truong Hai Group proposed that the Lam Dong Provincial People's Committee approve a meeting in January for them to report in detail the research results and implementation plan. The company plans to complete the Pre-Feasibility Study Report and submit it to the competent authority in the first quarter.
Billionaire Tran Ba Duong's Truong Hai Group operates as a multi-industry corporation, with 6 main areas including automobiles, mechanics & supporting industry, agriculture, logistics, investment & construction, and trade and services.
The last time Thaco Group announced its business results was for the first 6 months of 2023, with after-tax profit of VND 1,076 billion, less than a quarter of the same period in 2022, when the auto market faced many difficulties.
According to the Mineral Processing Plan to 2030 with a vision to 2050, bauxite exploration and exploitation activities must be associated with deep processing, that is, at least producing alumina products.
Lam Dong is one of the areas with potential for this mineral in the Central Highlands. There is currently the Lam Dong Alumina Bauxite Factory project (belonging to the Vietnam National Coal and Minerals Group, TKV) in the Tay Tan Rai area, licensed for exploitation since 2010. Another bauxite project is located in Dak Nong province, which is the Nhan Co Alumina Factory.
Minh Son
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