On January 6, Lam Dong Provincial People's Committee announced that it had just received a report on the research results of the Thaco Circular Economic Complex project of Truong Hai Group Joint Stock Company (Thaco) in the locality.

The Provincial People's Committee assigned the Department of Planning and Investment to preside over and coordinate with the departments and branches including the Department of Industry and Trade, Finance, Natural Resources and Environment, Construction, Agriculture and Rural Development, Transport and related localities based on current regulations to inspect, guide and resolve Thaco's request according to their authority. In case of exceeding authority, report to the Provincial People's Committee.

This move was made by the Lam Dong Provincial People's Committee when Thaco proposed to implement the Circular Economic Complex project. The enterprise then reported the results of the project research, based on the local agreement on information collection, field survey, research to select the location of the bauxite and alumina processing plant complex, and made a master plan to implement the project.

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Exploiting bauxite ore for alumina processing in Dak Nong province (Photo: VNA).

The project is called Lam Dong Alumina Factory 2, expected to be implemented in Bao Lam, Da Huoai, Da Teh districts and Bao Loc city.

Accordingly, the project is formed in the direction of a circular economic complex, creating a circular economic value chain from bauxite mining, alumina and aluminum processing and soil restoration, environmental services, industrial crop cultivation, along with a system of agricultural processing factories, alumina auxiliary factories and eco-tourism.

This is a bauxite mining plant and an alumina processing plant with a capacity of 4 million tons/year.

According to Truong Hai Group Joint Stock Company, the factory is expected to be implemented in 2023-2030 with 3 phases. The total investment is about 103,024 billion VND, of which equity is 30,907 billion VND and loan capital is 72,117 billion VND.

Thaco said the project will operate for 50 years. The bauxite mining period will be about 20 years. In addition, the project is expected to create stable jobs for about 4,000 workers, and is expected to contribute about 4,800 billion VND to the budget each year.

Based on the above, Thaco proposed that the Lam Dong Provincial People's Committee include the project in the provincial planning, planning for exploration, exploitation and processing, mineral use, and land use planning. At the same time, it proposed to assign mines for exploitation, implement compensation policies, clear land for project implementation, deploy items to implement the project complex, and complete the closed chain.