The project has a total investment of USD 522.466 million, of which VDB provides USD 113.1 million (about 2.400 trillion VND) with loan maturity of 12 years, grace period of 4 years.
The project located in Nongbok district, Khammouan province, People's Democratic Republic of Laos is implemented by Vinachem with two main outputs of potash (KCl) and dietery salt (NaCl). Potash is predicted to have the reserve of about 350 million tonnes, resource levels forecast of 1.6 billion tonnes while the salt reserves of over 2 billions tonnes and the resource level up to 9 billion tonnes. As plan, the processing plant will be built on the east of the Nonglom mine on an area of approximately 175.000 m2. Its two main products at Vietnamese and international standards are KCl K60 (KCl content of 95%), capacity of 320.000 tonnes / year and high quality salt NaCl (content of 98%), capacity of 300,000 tonnes / year.
The project will satisfy partly fertilizer demand for agricultural production, ensuring national food security of Vietnam and make Vietnam more active in production materials, saving foreign currency due to reduced imports.
At the signing ceremony, Operation Center I and Vinachem have also signed a cooperation agreement on promotion of Vinachem’s projects by State Investment Credit according to which the Operation Center I will provide support in the forms of credit activities such as investment credit, export credit capital and guarantee for Vinachem’s loans at commercial banks . /.