Alcoa subsidiary considering deal to invest in Vietnam refinery
Aluminum producer Alcoa Inc, announced Tuesday that it will look into buying a stake in a refinery project with a state-owned minerals development company in Vietnam.
By Agencies |
PITTSBURGH: Aluminum producer Alcoa Inc, announced Tuesday that it will look into buying a stake in a refinery project with a state-owned minerals development company in Vietnam.
Under an agreement with Vietnam National Coal-Mineral Industries Group, an Alcoa subsidiary will conduct due diligence on buying a 40 per cent stake in the proposed Nhan Co, alumina refinery. The facility, to be built in Dak Nong Province, would produce 600,000 metric tons per year of alumina, a material made from bauxite and used to make aluminum.
If the transaction goes ahead, Alcoa World Alumina and Chemicals will own 40 per cent, the Vietnamese company 51 per cent and other investors 9 per cent of the Nhan Co. refinery and bauxite mine. Pittsburgh-based Alcoa has a 60 per cent stake in Alcoa World Alumina and Chemicals.
Under an agreement with Vietnam National Coal-Mineral Industries Group, an Alcoa subsidiary will conduct due diligence on buying a 40 per cent stake in the proposed Nhan Co, alumina refinery. The facility, to be built in Dak Nong Province, would produce 600,000 metric tons per year of alumina, a material made from bauxite and used to make aluminum.
If the transaction goes ahead, Alcoa World Alumina and Chemicals will own 40 per cent, the Vietnamese company 51 per cent and other investors 9 per cent of the Nhan Co. refinery and bauxite mine. Pittsburgh-based Alcoa has a 60 per cent stake in Alcoa World Alumina and Chemicals.
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