THANH HOA (VNS)— Three-quarters of the eight iron ore mining and processing projects in central Thanh Hoa Province are reported to be 1.5-2 years behind schedule, according to the provincial Department of Industry and Trade.
Meanwhile, the remaining two projects, which produced ferocrom and iron ore, have been postponed as a result of ineffective operation.
These projects have total investment capital of US$195 million with a total capacity of producing 295,000 tonnes of ferocrom and 290,000 tonnes of iron each year.
Backward technology and inefficient production lines were the main culprits, said director of the provincial Department of Industry and Trade Hoang Van Hung.
Meanwhile, investors failed to fully assess the reserves and quality of material zones, so they faced material shortages after only a short period of operation.
In order to help these businesses overcome their difficulties, the department has proposed extending the deadline for slow projects, while the provincial Department of Science and Technology says it will help firms by offering feedback on their production lines.
The provincial People's Committee also plans to create favourable conditions for businesses to speed up their projects, including land clearance and electricity supply. — VNS