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Vietnam allows Alcoa 40 pct stake in alumina plant

Mon May 5, 2008 11:23pm EDT

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

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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)

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