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Vinachem invests $450m in Laos

Update: February, 10/2012 - 12:02

VIENTIANE – The Viet Nam Chemical Group (Vinachem) has signed a US$450 million project to exploit and process kali salt in Laos' Khammouan Province.

The project was sealed yesterday between Vinachem General Director Nguyen Dinh Khang and Lao Planning and Investment Minister Bounthavi Sisouphanthong in Vientiane and was witnessed by Vietnamese President Truong Tan Sang and his Laotian counterpart Chummalay Saynhasone.

Vinachem will therefore exploit kali salt across an area of for 20 years. A factory to process kali salt will be built with a designed capacity of 320,000 tonnes of kali per year and will run for 50 years. The factory is the first module in the Vinachem's complex for exploiting and processing kali salt in Laos.

The Laos Government also granted the group of land to survey for possible kali salt mines.

The project is expected to contribute to Khammouan Province's economy as well as provide kali for Viet Nam's market. – VNS

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