According to a contract announced on March 21, Military Commercial Joint Stock Bank (MB, HOSE: MBB) is the lead financial institution for the first and second phases of the project, arranging a total of VND 12.5 trillion in financing.
The Dak Nong Aluminum Electrolysis Plant project is located in the Nhan Co Industrial Park, Dak R’lap District, Dak Nong Province. The plant has a total capacity of 450,000 tons/year and a total investment of approximately USD 690 million.
In the first and second phases, the plant’s total capacity is 300,000 tons of aluminum per year. The total investment for both phases is VND 16 trillion, of which MB finances and arranges VND 12.5 trillion.
MB allocates VND 12.5 trillion for the Dak Nong Aluminum Project. Photo: Dak Nong Television
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It is estimated that when the project is commercially operational, it will contribute approximately USD 700 million to Dak Nong Province’s GDP annually and an average of USD 120 million to the state budget…
Upon completion, the Dak Nong Aluminum Electrolysis Plant will consume all the products from the Nhan Co Alumin Plant and a portion of the output from the Tan Rai Alumil Plant (Lam Dong). The plant is expected to be Vietnam’s first producer of pure aluminum, fostering the development of deep processing industries for aluminum and other auxiliary industries, with exports to the global market.
The project is developed by Tran Hong Quan Metallurgy Company Ltd., which commenced construction in the Nhan Co Industrial Park in September 2014.
As of mid-February this year, the project has completed the construction of components and technical infrastructure, with a total investment of approximately VND 2.1 trillion. The project is expected to be operational by 2025, with a capacity of 150,000 tons of aluminum per year, according to the Dak Nong Electronic Newspaper.
Tran Hong Quan Metallurgy Company Ltd. is owned by Mr. Tran Hong Quan, Ms. Nguyen Thi Bich Thao, and Mr. Quan’s company, Tran Hong Quan Trading Company Ltd., which was established in 2013 with a charter capital of VND 500 billion; the respective contribution ratios were 3%, 2%, and 95%. Mr. Quan serves as the Chairman of the Members’ Council and legal representative.
As of September 2023, the company’s charter capital was VND 1,364 billion. Tran Hong Quan Holdings Company Ltd. holds 95%, while Mr. Quan and Ms. Thao maintain their contribution ratios. Tran Hong Quan Holdings was established in 2020 with a primary focus on investment consulting. Its initial charter capital was VND 1,000 billion, with Mr. Quan and Ms. Thao contributing 80% and 20%, respectively. Mr. Quan serves as the General Director and legal representative. In December 2021, the company unexpectedly registered to reduce its charter capital to VND 3 billion, with the ownership ratios remaining unchanged. As of mid-January 2025, the charter capital stood at VND 998.4 billion. Tran Hong Quan Petroleum Company Ltd. holds 50%, Tran Hong Quan Trading Company Ltd. holds 21.5%, Mr. Quan holds 25%, and Ms. Thao holds 3.5%.
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Shareholder Structure of Tran Hong Quan Metallurgy Company Ltd.
Source: Author’s compilation
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– 13:14 24/03/2025
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