Tri-nation aluminum mining consortium to invest US$ 4 billion

Tri-nation aluminum mining consortium to invest US$ 4 billion

(KPL) Sino-Lao Aluminum Corporation will invest US$ 4 billion to mine aluminum and to construct a smelting factory in Attapue province this year after receiving the green light from the Lao government.
The company is aiming to produce of 500,000 tons of aluminum per year and all of it will be exported.
According to the Head of Planning and Investment Service of Attapue province, Mr. Sisavanh Chanthaphaiboun a number of villages in Sanamxay district, Attopue province would be demolished to make way for the construction of the smelting factory and the affected villagers would be allocated land for resettlement.
He said last week that the Sino-Lao Aluminum Corporation is a tri-nation investment consortium, made up of private investors from Laos, Thailand and China.
Mr. Sisavanh further stated that the company received a 30-year concession to mine aluminum in provinces of Champassak and supplying raw materials to factory in Attapue. .
This mega investment project on mining will not only boost the economic development of the country but it will also create 5,000jobs.