Daewoo's aluminum project

Daewoo's aluminum project

HANOI (AFP): South Korean chaebol Daewoo Corp. is considering
investing in a one-billion-dollar integrated aluminum casting
project in Vietnam's Central Highlands, a company representative
said Friday.

Daewoo had signed a letter of intent with state-owned Vietnam
Minerals Corp. to conduct a survey of two bauxite reserves in
Daklak, she said.

While Vietnam is extremely rich in bauxite with estimated
reserves of 6.5 billion tons reportedly accounting for more than
16 percent of the world's supply, the mineral is located in a
remote mountainous area.

Daewoo must contemplate an ambitious plan that would
incorporate a new power plant and upgrading transport links from
the mountainous area some 200 kilometers (125 miles) from Ho Chi
Minh City.