Construction of a 450-million-USD Vietnam-Laos project to process salt
in Khammouan province in Laos will start next month, according to the
Vietnam Chemical Group (Vinachem).
The
Vinachem-backed project, signed in February last year with the Lao
Planning and Investment Ministry, is its first in the field. The group
will mine salt across an area of 10sq.km for 20 years and also build a
factory to process 320,000 tonnes a year.
The Lao
Government granted the group 196.5sq.km of land to survey for possible
salt mines. On completion, the project will be able to supply the Lao
market, reducing salt imports and boosting economic development in
Khammouan province.
According to the International
Council on Mining and Metals (ICMM), mining industry represents 80
percent of foreign direct investment in Laos, accounts for 45 percent of
its total exports, and is responsible for 12 percent of government
revenues and 10 per cent of national income.-VNA