THACO’s $4.4bn Vietnam bauxite-alumina push to cement aluminium ambition pathway

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The Vietnamese industrial conglomerate Truong Hai Auto Corporation (THACO) is accelerating its ambitions in the country’s bauxite and alumina sector, unveiling a slate of proposed mining and processing projects in Lam Dong Province worth an estimated USD 4.4 billion. The proposal indicates the company’s long-term strategy to solidify its imprint across the aluminium value chain of Vietnam, from the upstream ore extraction to the downstream processing and industrial manufacturing.

The proposal surrounds the planned Lam Dong 2 alumina complex, also known as the THACO alumina plant. Spanning about 804 hectares, the venture is aimed at producing up to 2 million tonnes of alumina annually and carries an approximate investment of VND 49.66 trillion (USD 1.9 billion). 

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If the proposal is approved in 2026, the first phase is planned to be commissioned by 2030. The initial capacity is set to be 1 million tonnes per annum (MTPA), followed by gradually scaling up production based on market trends and dynamics.

THACO has also proposed a large-scale bauxite mining project covering around 15,155 hectares in the Loc Tan-Loc Quang and Bao Lam regions. Valued at an estimated VND 67.07 trillion (USD 2.5 billion), the initiative aims to extract nearly 12 million tonnes of raw ore annually.

Beyond mining and alumina refining, THACO is exploring the development of the Song Luy Industrial Park as an integrated deep mineral processing hub. The proposed 720-hectare complex would include aluminium electrolysis facilities, titanium processing units, chemical plants and supporting industries, alongside a thermal power plant.

Additional industrial parks, Gia Huynh 3 and Gia Huynh 4, are also being studied to support downstream aluminium manufacturing, titanium products and new material industries.

Despite the scale of the proposals, however, the projects are yet to secure official approval. According to Lam Dong’s Department of Finance, the developments continue to face hurdles related to land allocation, forestry planning and overlaps with previously approved projects. Authorities have asked THACO to revise and complete the required documentation before any investment approvals can move forward.

If realised, the projects could transform Lam Dong into one of Vietnam’s largest integrated bauxite and alumina production clusters while strengthening the nation's broader long-term aluminium ambitions. 

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