Huge potential of 'tycoon' to build nearly billion USD aluminum project in Binh Phuoc

Tiềm lực khủng — A corner of Duc Lieu commune, Bu Dang district, Binh Phuoc province is planning to implement an alumina processing and production project - Photo: AB

The People's Committee of Binh Phuoc province has recently approved the investment policy for the Binh Phuoc alumina processing and production project (part of the bauxite mining, ore selection, and alumina processing and production complex).

The project has a total area of nearly 300 hectares in the communes of Nghia Binh, Nghia Trung, Thong Nhat and Duc Lieu (Bu Dang district), with a total investment of about 22,780 billion VND (equivalent to 911.2 million USD).

Of which, the investor's capital contribution is about 6,834 billion VND, mobilized capital is about 15,946 billion VND. The time to implement construction and complete basic construction is 5 years.

The investor approved for the above project is Binh Phuoc Ore Exploitation Joint Stock Company.

According to Tuoi Tre Online 's research, Binh Phuoc Ore Exploitation Joint Stock Company, formerly An Vien BP Joint Stock Company, was established in 2008 in Dong Xoai City, Binh Phuoc.

Mr. Phan Thanh Nam is the general director and legal representative of this enterprise. Mr. Nam was born in 1977, and his permanent residence is in an apartment building in Thanh Xuan district, Hanoi.

Before being approved to carry out the above-mentioned large-scale project, Binh Phuoc Ore Exploitation Joint Stock Company increased its capital many times.

In October 2024 alone, this enterprise increased its capital from VND 5,500 billion to VND 7,005 billion (October 4) and continued to increase to VND 7,989 billion 13 days later.

The strong capital increase took place in October, even though just before that, the company had a "lightning-fast" capital increase from VND500 billion to VND5,500 billion in September 2024.

Data on the business registration system also shows that Binh Phuoc Ore Exploitation Joint Stock Company has changed its legal representative many times.

Previously, Mr. Cat Quang Vinh (born in 1973) was the general director and legal representative. In early 2014, Mr. Vinh transferred to Mr. Nguyen Duy Thai Duong (born in 1973).

After that, Mr. Nguyen Duy Thai Duong (born in 1973) became the general director and legal representative of this enterprise until the end of 2023, when he transferred to Mr. Nam.

In the changes to the business registration in recent years, the list of shareholders contributing capital was not mentioned. However, information from the business registration update from 2014 revealed the list of founders of this enterprise.

Accordingly, there are 3 shareholders including both organizations and founding individuals: An Vien Joint Stock Company contributes 62% of capital, Mr. Pham Nhat Vu contributes 30%, the rest is Viet Nhat Technology and Media Investment Company Limited.

In which, An Vien Joint Stock Company is known as a business in Ho Chi Minh City, with Mr. Nguyen Huy Bao as director and legal representative.

Mr. Nguyen Thanh Nam - General Director of Binh Phuoc Ore Exploitation Joint Stock Company, is also the leader of two other enterprises, including: An Vien BP Joint Stock Company, Dai Phuc Mineral Joint Stock Company.

BINH KHANH