NASC reviews Tan Rai and Nhan Co bauxite projects

NASC reviews Tan Rai and Nhan Co bauxite projects - 

On May 17, the National Assembly Standing Committee (NASC) spent its last working morning on reviewing socio-economic, security and defense efficiency of the Tan Rai and Nhan Co bauxite projects, funded by the Vietnam National Coal and Minerals Group (VINACOMIN).

Deputy PM Hoang Trung Hai speaks at the session.

These are the first two trial projects in Lam Dong and Dak Nong provinces to exploit bauxite to produce aluminum in the country, and they are expected to boost development in the central highlands region.

Chairman of the NA Economic Committee Nguyen Van Giau, who heads the NA’s oversight delegation, said the projects’ efficiency should be evaluated on a larger scale, not only in the economic results for VINACOMIN, but also the socio-economic outcomes brought to the central highlands region and the country at large.

The oversight delegation said that in the current difficult economic situation, large investments in the two projects should be implemented carefully with thorough calculations, particularly fixing appropriate costs to ensure economic efficiency.

Aluminum prices depend on the world market so changes will affect the economic efficiency of the project, the report said.

The delegation concluded that VINACOMIN has followed Party and State policies in developing and implementing the projects, but they also urged the corporation to shorten its investment process and put the projects into operation as soon as possible.

Several NASC members wondered about the technological capacity of the two projects without reliance on foreign experts and transportation while requiring clearer explanations about the security and national defense efficiency of the projects.

NA Chairman Nguyen Sinh Hung expressed his pleasure with the initial trial results of manufacturing iron from red mud discharged during bauxite mining, saying that relevant agencies and the investor should make further studies to apply the technology, contributing to improve the projects’ economic efficiency.

Deputy Prime Minister Hoang Trung Hai said that the projects have brought initial results to socio-economic development in the two provinces and the central highlands region, contributing to ensuring security and national defence.

He added that VINACOMIN has managed to run these projects without having to hire foreign companies.

Source: People News

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