4:23:57 PM | 5/9/2008
The Vietnam National Chemical Corporation (Vinachem) said it will exploit kalium ore in Laos to make fertilizer for the two countries and export, Vietnam News Agency reported on September 4.
A Vinachem subsidiary - the Vietnam-Laos Chemical and Rock Salt Co. Ltd. – with a legal capital of US$30 million will officially make its debut September 5 to execute the project in the Lao provinces of Khammouane and Savanakhet.
Vinachem General Director Do Duy Phi, who is also chairman of the newly established company, said that the Lao government previously approved its plan to explore an area of 196.5 square kilometers for mineral ores following positive results of the first phase performed on only 10 square kilometers.
Vietnam now has to import all 600,000 tons of kalium ore per annum for its domestic fertilizer and chemical production. The amount is estimated to reach 1.1 million tons in 2015. (VNA, Vietnam Economic Times)
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