General Director of Viet Phuong Group Phuong Minh Hue (front, second from left) and Lao Minister of Planning and Investment Suphan Keomisay exchange the signed contract (Photo: VNA)Vientiane (VNA) – The Lao Government and VietPhuong Group (VPG) of Vietnam on September 11 signed a contract for exploitingand processing bauxite ore and building an alumina factory in Sekong provinceof Laos.
With total investment of about 650 million USD,this will be Vietnam’s biggest investment project in the mining industry ofLaos.
The project is located in Dakcheung district ofSekong and will cover nearly 100 sq.km of land. It is part of the roadmap forimplementing the agreement on economic, cultural and scientific-technicalcooperation between the Vietnamese and Lao Governments.
It not only matches the socio-economicdevelopment plans and the expansion of relevant infrastructure in relatinglocalities but will also help ensure security-defence in areas with bauxitemines, particularly in Sekong province and the Cambodia-Laos-VietnamDevelopment Triangle Area.
At the signing ceremony, VPG General DirectorPhuong Minh Hue thanked the authorities of Laos and Sekong for supporting herfirm over the last 10 years to carry out the agreement on bauxite explorationinked with the Lao Government.
She said the successful implementation of thisproject will contribute to the development of the Lao economy and help increasethe proportion of industry in the local economy and industrialise and modernisethe country.
She also called for more support from the LaoParty, Government and people for project implementation and pledged that withits capability and experience, VPG is determined to carry out this projectsuccessfully so as to help implement the two countries’ socio-economicdevelopment cooperation programme and reinforce their special friendship.
When operational, the project is set to createthousands of jobs for local residents and contribute millions of USD to thelocal budget each year, Hue added. -VNA
VNA
