Vietnam allows Alcoa 40 pct stake in alumina plant

HANOI, May 6 (Reuters) - The Vietnamese government said on Tuesday it will allow Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) to own up to 40 percent of a major alumina mining and refining project in the Central Highland of Daknong.

The project, with an annual capacity of 600,000 tonnes of alumina, will be 51 percent owned by the state-run coal producer Vinacomin and 9 percent would be sold to the public, the government said in a directive.

(Reporting by Nguyen Nhat Lam, Editing by Jacqueline Wong)