Vietnam’s industrial giant Truong Hai Group Corporation steps into bauxite and non-ferrous metals

Vietnam's one of the leading private conglomerates, Truong Hai Group Corporation (Thaco Group), in order to include mining and metal production, has now extended its business registration.

Mining and processing of bauxite and mining of the other non-ferrous metal ores are included in the latest business registration. Activities related to mining will be supporting other activities, which may include quarrying of stone, sand, gravel and clay, construction of mining works and wholesaling metals and their ores.

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Within the newly registered business line, promotions of precious and other non-ferrous metals alongside forging, stamping, pressing and rolling metal are also included.

Apart from the mining activities, the firm is also looking forward to incorporating and adjusting to various sectors. These sectors will be the railway industry with the locomotives manufacturing, freight and passenger transport and further support the rail transport services. Alongside this, the firm also has a vision to add to and work with the arts and entertainment, with the performing arts.  

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Via the stock distribution being at a 3:1 ratio, last month, the firm has been able to successfully raise its charter capital by almost VND 40.52 trillion (USD 1.54 billion) and VND 30.39 trillion (USD 1.16 billion).

Thaco's largest foreign shareholder, Singapore-listed Jardine Cycle & Carriage (JC&C), will continue to hold a 26.7 per cent stake. Other individual investors hold small minority positions and are linked to South Korea. 

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