Prime Minister Nguyen Tan Dung officially launched the Nhan Co Aluminum plant to exploit bauxite and to refine aluminum in the central highland province of Dak Nong. This is the second such project in central highlands.

Speaking at the inauguration ceremony, PM Dung emphasised that the Tan Rai Aluminum Plant in Lam Dong and the Nhan Co Aluminum Plant in Dak Nong play an important role in sustainable socio-economic development in the Central Highlands. He urged the project’s Engineering /Procurement / Construction (EPC) contractor, the Chinese Aluminum Group, to obey Vietnam’s laws and the province’s regulations during its execution. The Chinese group will be responsible for building the plant and will hand it over to the investor when it is completed.

He also asked Dak Nong and Lam Dong provinces to adjust their urban and socio-economic development plans to benefit from bauxite exploitation and aluminum production projects.

The 650,000 tonne capacity plant is invested by the Nhan Co Aluminum Joint Stock Company under the Vietnam Coal and Mineral Industries Group at a cost of more than VND11,500 billion.

By the end of 2012, the plant will be complete and will produce its first tonne of aluminum with an expected turnover of more than VND3,700 billion per year. The first phase of the Nhan Co Aluminum and Bauxite project will help train more than 1,600 industrial workers and generate 16,000 stable jobs.

According to statistics, Vietnam has the world’s largest bauxite reserves and Dak Nong alone has more than 5 billion tonnes. The Ministry of Natural Resources and Environment is still in the process of exploration with high hopes for around 11 billion tonnes in reserves.

*** On the same day, Prime Minister Nguyen Tan Dung held a working session with Dak Nong provincial leaders to discuss the socio-economic development situation and orientation for the future.

PM Dung highly praised the efforts of the province’s Party, authorities and people to overcome difficulties and achieve an economic growth rate of 14.6 percent and social investment capital increase of 54 percent. Social welfare and other policies, such as resettlement, production development and granting insurance certificates have also been implemented.

Mr Dung also shared difficulties and challenges facing the province such as the number of poor household being more than 13 percent and the slow disbursement of capital for projects.

He pointed out Dak Nong’s potential strengths, such as large area of land, a favourable climate to develop agriculture, and rich bauxite reserves for developing industry. He urged the provincial Party to organise a Party congress at all levels and devise specific targets to bring practical benefit to citizens, especially the elimination of poverty, particularly for ethnic minorities. The province should develop afforestation, plant rubber trees and provide preferential loans for ethnic minority people to develop animal husbandry, Mr Dung requested.

Mr Dung and leaders of some ministries also discussed measures to help Dak Nong promote sustainable socio-economic development.