09:50 | 04/01/2018 Industry
Nhan Co aluminum plant under the Vietnam National Coal – Mineral Industries Group (Vinacomin)’s Dak Nong aluminum company produced 501,000 tonnes of aluminum during its first year of operation last year, equivalent to 104 percent of its target.
|Nhan Co aluminum plant (Source: VNA|
Construction of the plant started in the Central Highlands province of Dak Nong in June 2007 with total investment of more than 16.8 trillion VND ( US$740 million) and total capacity of 650,000 tonnes per year. In late 2016, it began test operations and churned out commercial products.
Its products are mostly exported to Japan, the Republic of Korea, Hong Kong (China), Singapore, the United Arab Emirates and Switzerland. With more than 98.6 percent of alumina content, its aluminum products are popular worldwide.
In the domestic market, aluminum and hydrate are sold to the South Mining Chemical Industry Company, the Chuan Kuo ceramics JSC and My Le company.
This year, the Dak Nong aluminum company earned nearly US$185 million from aluminum exports, contributing 240 billion VND (US$10.6 million) to the State budget, up 136 billion VND ( US$6.04 million) from 2016.
According to the Dak Nong Department of Industry and Trade, the province’s industrial production value rose by 40 percent annually and export revenue hit a record US$1 billion, 13 percent of which was from aluminum exports.
The Dak Nong aluminum company aims to produce 580,000 tonnes of aluminum in 2018.