Vinachem aims to complete the Potash Salt Project in Laos in 3 years

09/30/2024 16:42

Vinachem Chairman Phung Quang Hiep (left cover) works with representatives of the Laos - Vietnam Cooperation Committee.

(PLVN) - "The Group's working delegation has just had a very effective working program with ministries, branches and localities in Laos. After this trip, we aim to focus all resources on implementing the project within 3 years", Mr. Phung Quang Hiep - Chairman of Vietnam Chemical Group (Vinachem) told PLVN.

The potash salt project has a total investment of 522 million USD, of which Vinachem has invested about 100 million USD. The project started in 2015, but after 2 years had to be suspended to seek opinions from competent authorities on exploitation.

The Ministry of Industry and Trade, then the State Capital Management Committee at Enterprises and Vinachem have worked many times with Lao authorities and organized field surveys to discuss ways to restart the project.

Lao Minister of Planning and Investment received a delegation from Vinachem and representatives of several Vietnamese authorities to work on the Potash Salt Project in Khammouan province.

“The Chairman of the State Capital Management Committee at Enterprises personally went to Laos to work on this project. The Group's leaders have also met with relevant authorities on the other side many times to discuss the implementation. The Group identifies this as an important political task and will carry it out with the highest determination, thereby contributing to fostering the friendship and good cooperative relationship between Vietnam and Laos,” said Mr. Hiep.

Vinachem representative said that in mid-September, in Laos, Vinachem's working delegation together with representatives of the State Capital Management Committee at Enterprises, the Ministry of Planning and Investment and a number of Vietnamese enterprises interested in this project had meetings and worked with Mr. Phet Phom Phi Phac - Minister of Planning and Investment of Laos; Pho Xay Xay Nha Son - Minister of Energy and Mines of Laos; Vieng Sa Van Vy Lay Phon - Permanent Vice Chairman of the Laos - Vietnam Cooperation Committee; Van Xay Phong Sa Van - Secretary, Governor of Khammouan province.

Working with the Lao Minister of Energy and Mines, Chairman of Vinchem proposed that the Ministry create favorable conditions when granting licenses to import materials and equipment into Laos to serve the project.

“The Lao side welcomed the delegation and expressed great support for the restart of Vinachem’s Potash Salt Project. During the meetings, we discussed and reported on the policy of continuing to implement the project, and requested the Lao Ministry of Planning and Investment, Mines and Energy to soon issue import licenses for materials, equipment, construction permits and procedures to adjust the Feasibility Study Report (FS) of the project,” said the Chairman of Vinachem.

As reported by PLVN Newspaper, this project was implemented more than 10 years ago, and at this point, the FS needs to be adjusted, reviewed and re-approved. This work is expected to be implemented and completed within 9 - 12 months, and then the project will begin construction within 24 months to put into operation and produce commercial products.

Secretary and Governor of Khammouan Province (right cover) pledged to create all favorable conditions for the project, first of all, the import of equipment through border gates in this province.

It is known that this project is located in Khammuoan province (in Central Laos), with an exploitation area of ​​10 km ^2. 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.

According to Mr. Do Van Tuan - General Director of Southern Fertilizer Joint Stock Company - a member unit of Vinachem, each year this enterprise has to import up to 30,000 tons of potassium to produce NPK fertilizer. Domestic fertilizer enterprises, depending on the scale of production, are also having to import this input material.

The Laos - Vietnam Cooperation Committee (with representatives of the Ministry of Planning and Investment, Energy and Mines, and Lao Customs) worked with the Vinachem delegation and relevant agencies of Vietnam.

“Some domestic investors such as the State Capital Investment Corporation (SCIC) are also quite interested in the above project and have joined our working delegation to Laos on this occasion,” said Mr. Phung Quang Hiep, adding that after returning to Vietnam, some necessary work to adjust the project's FS was immediately implemented.

Vinachem's working group inspected the project's well drilling area in Nongbok district, Khammouan province.

In September 2024, a Working Group to implement the Potash Salt Project in Laos was also established, headed by the Deputy General Director of Vinachem, to coordinate related work alongside a specialized unit of the Group, the Vietnam - Laos Chemicals and Mineral Salt Company Limited (Vilachemsalt).

“The Vinachem working group will meet and report on the progress of the work every week. Our goal is to strive to complete the project in 3 years,” Vinachem Chairman Phung Quang Hiep determined.

Source: https://baophapluat.vn/vinachem-dat-muc-tieu-3-nam-de-hoan-thanh-du-an-muoi-mo-kali-tai-lao-post527087.html