Vietnam’s Aluminium-Bauxite Complex expects profit after three years of operation
Lam Dong Aluminium-Bauxite Complex project is hoping to churn out earnings up to VND1.2 trillion (US$52.6 million) per year after three consecutive years of losses. The Complex has already started seeing their earnings.
It was forecasted that the project would incur losses for the first five years of operation, but the complex has seen profits right from the fourth year, Deputy Minister of Industry and Trade Do Thang Hai stated during his visit to the project.
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In March this year, Aluminium-Bauxite Complex incurred a loss of nearly VND3.7 trillion after three years of operation. Business and production loss totalled VND2.5 trillion and exchange rate discrepancies caused losses of VND1.17 trillion.
Aluminium-Bauxite Complex project has a combined investment of VND15.4 trillion, according to the Viet Nam National Coal and Mineral Group (Vinacomin), the project’s investor.
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The complex is expected to produce an estimated 630,000 tonnes of aluminium in 2017.
The total production of aluminium stood at 325,900 tonnes in the first half of 2017, and the sales for the first half reached VND2 trillion.
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