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Dongyang Gangchul, the leading aluminium producer in South Korea, and the Vietnam Coal and Mineral Group have just agreed in principle to build an aluminium processing plant in Vietnam.

Under the deal, a plant that has design production capacity of 300,000 tones of aluminium ingots per year and meets some 25 per cent of the South Korean market for aluminium will be erected near a large aluminium mining site in Vietnam.

Director of the South Korean company, Park Sang-woo said that it will first carry out the project’s feasibility study in 12 months before building the plant.

The company also revealed that part of the plant’s products will then be exported to South Korea as material and the remainder will be used to produce aluminium goods in Vietnam before exporting to that country.

Reportedly, South Korea is boosting investment in Vietnam; apart from the plant, it is considering investing in energy, oil, gas and coal in the country.

Source: DDDN

Translated by Thu Nguyen