Thaco seeks to remove obstacles to hotel, bauxite projects in Vietnam's Central Highlands

Thaco expects the Central Highlands province of Lam Dong to help the multi-industry corporation remove barriers to its hotel, bauxite, and aluminum projects in Da Lat town, said a company representative.

At a Tuesday meeting with Chairman of the province Tran Hong Thai, Nguyen Hoang Tue, general director of Thaco’s industrial developer unit Thadico, stated that the company’s operations align closely with Lam Dong province’s development strategy.

According to Tue, the Golf 1 Hotel project is hindered by planning and construction permit issues, while the bauxite and aluminum plant projects need support in power supply and land reclamation planning.

The planning schemes of Lam Dong and Da Lat also impact Thaco’s proposed investments, he noted. Other concerns involve the planning of eastern Da Lat and certain expressway sections that Thaco intends to start constructing soon.

Deputy director of the provincial Department of Construction Bui Quang Son said the department will work with Da Lat town to expedite the planning of a 165-hectare area. The Golf 1 Hotel project, in particular, is delayed due to the lack of a detailed planning scheme.

Although the eastern Da Lat planning fits current development needs, it conflicts with the master plan for Da Lat town and surrounding areas to 2030, with a vision to 2050 (Master Plan 704) under the prime ministerial Decision 704/QD-TTg issued in 2014. The construction department has made a proposal on this issue in a report to the Ministry of Construction.

Thai emphasized that if Thaco’s projects comply with regulations and do not violate Master Plan 704, adjustments can be made to facilitate them. The provincial leader requested the construction department and Da Lat to submit the town’s updated planning scheme before June 1.

Thaco is required to submit detailed information to the construction department for submission to the Prime Minister to include the projects in the planning schemes.

The Da Lat Golf 1 Hotel project covers 4,440 square meters, with a total investment of VND798 billion ($30.74 million). It is located on Dinh Tien Hoang street, opposite Da Lat’s Doi Cu golf course and near Xuan Huong Lake.

Thaco’s bauxite project has completed information collection, site surveys, and location selection. It is now at the stage of developing a master construction plan.

The company has submitted a pre-feasibility study proposing an investment plan for bauxite mining and aluminous processing plants, with a capacity of about 4 million tons of alumina per year.

The investment will be carried out in three phases over approximately 10 years, with a total estimated capital of VND103 trillion ($3.97 billion), including VND30.9 trillion in equity and VND72.1 trillion in loans.

The project is planned to operate for 50 years, including 20 years of bauxite mining. For the remaining time, Thaco will use imported raw materials for processing.

The company also plans to clear more than 1,700 hectares of land, including production forest land, perennial crop land, residential land, rural land, irrigation land, river land, and cemetery land.

The People's Committee of Quang Nam province in central Vietnam has given in-principle approval to the expanded Chu Lai Truong Hai Auto Mechanical Industrial Park.

The investor is Chu Lai Truong Hai Urban and Industrial Infrastructure Development One-Member Co., Ltd., a subsidiary of Thaco, owned by billionaire Tran Ba Duong. The company is headquartered in Tam Hiep commune, Nui Thanh district, Quang Nam province.

The 114.78-hectare project has a total investment capital of VND1.43 trillion ($55 million). The investor will contribute VND286.2 billion, equivalent to 20%, while the remaining 80% will be mobilized from other sources.