Vinachem's potash mine project in Laos worth over 520 million USD restarts after 8 years

Vietnam Chemical Group (Vinachem) has officially received the investment license and cooperation documents to continue implementing the potassium salt mining project in Laos.

Mr. Phung Quang Hiep - Chairman of Vinachem informed about the potassium salt mine project in Laos - Photo: D.Giang

Information released by Vinachem on the afternoon of January 9 said that within the framework of the Vietnam - Laos Investment Cooperation Conference held on the same day, witnessed by Prime Minister Pham Minh Chinh, the group received an investment license and cooperation documents from Mr. Phet Phomphiphak, Minister of Planning and Investment of Laos.

Expected commercial operation in July 2027

Mr. Phung Quang Hiep, Chairman of the Board of Members of Vinachem, affirmed that the determination to successfully implement the salt mine project in Khamuone province (Laos) is one of the most important political tasks for the group.

With the viewpoint of "not talking about difficulties, only proposing solutions to implement the project", Mr. Hiep affirmed that Vinachem will focus all resources, closely coordinate with related units to organize and implement the project with the highest determination as this is a symbolic project, demonstrating the close connection and cooperation between the two countries.

To implement the project, the Chairman of Vinachem said that he will closely coordinate with the Government agencies of the two countries to ensure the progress and effectiveness of the project. The rock salt processing plant is expected to go into commercial operation in July 2027 and is expected to bring great economic value, providing jobs and income for local people.

Besides the salt mining project, Vinachem also promotes cooperation and trade in many fields in Laos with fertilizer products, car and motorbike tires, batteries exported to Laos, reaching an export turnover of nearly 5 million USD/year.

Especially in the agricultural sector, with an export turnover of millions of USD each year and advanced farming pilot programs, the Group not only brings sustainable value to Laos' agricultural sector but also affirms the position of the Vietnamese brand.

Restart after 8 years of hiatus

The potassium salt mine project has a total investment of 522 million USD, with a licensed area of ​​10 ^km2 , Vinachem has invested 100 million USD, and is considered a large-scale investment project in Laos.

The project was started in 2015 but had to be suspended in 2017 to seek opinions from competent authorities on exploitation. Now, after 8 years of suspension, the Politburo has given its opinion and approved the continuation of the potassium salt project, which will serve as a basis for Vinachem to carry out this project.

The potash salt project is recorded in the cooperation agreement between the governments of Vietnam and Laos - a particularly important project, providing potash fertilizer for Vietnam to replace imports (currently 100% imported).

The products of this factory will serve the production of fertilizers. The expected capacity of phase I of the project is more than 250,000 tons of potassium/year, while the actual demand of the domestic market is from 900,000 - 1,000,000 tons of potassium/year.

Source: https://tuoitre.vn/du-an-muoi-mo-kali-tai-lao-cua-vinachem-quy-mo-hon-520-trieu-usd-khoi-dong-lai-sau-8-nam-20250109192813869.htm