Nhan Dan
May 3, 2008
The Prime Minister has allowed the Vietnam Coal and Mineral Industry Group (TKV) to set up joint stock companies with foreign partners for bauxite-aluminum projects.
Under the scheme, the TKV is allowed to set up a joint stock company with at most 40% of its stake sold to foreign partners and nine other% to the public. The group will keep 51% to hold the control right of a majority share holder.
The permission will enable the mining giant to invite the Alcoa group of the US to buy up to 40% of shares of the Nhan Co aluminum production project in the Central Highlands province of Dak Nong , with a capacity of 600,000 tonnes a year.
It will also be able to sell to the Yunnan Metallurgy Group of China at most 20% of the stock of a bauxite-aluminum project in Lam Dong province, also in the Central Highlands.
The Government also asked the TKV to submit detailed explanations for its joint-venture plan with the BHP group, under which the BHP will contribute 49% to a railway project leading from the Central Highlands to the southern central province of Binh Thuan and 10% to a bauxite mining and processing project in Cambodia.
The group will also take part in mining and processing bauxite in Cambodia , contributing 10% to the investment. (VNA)
May 3, 2008
The Prime Minister has allowed the Vietnam Coal and Mineral Industry Group (TKV) to set up joint stock companies with foreign partners for bauxite-aluminum projects.
Under the scheme, the TKV is allowed to set up a joint stock company with at most 40% of its stake sold to foreign partners and nine other% to the public. The group will keep 51% to hold the control right of a majority share holder.
The permission will enable the mining giant to invite the Alcoa group of the US to buy up to 40% of shares of the Nhan Co aluminum production project in the Central Highlands province of Dak Nong , with a capacity of 600,000 tonnes a year.
It will also be able to sell to the Yunnan Metallurgy Group of China at most 20% of the stock of a bauxite-aluminum project in Lam Dong province, also in the Central Highlands.
The Government also asked the TKV to submit detailed explanations for its joint-venture plan with the BHP group, under which the BHP will contribute 49% to a railway project leading from the Central Highlands to the southern central province of Binh Thuan and 10% to a bauxite mining and processing project in Cambodia.
The group will also take part in mining and processing bauxite in Cambodia , contributing 10% to the investment. (VNA)
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