Brazil’s Gerdau buys out Sumitomo Corp and JSW in Gerdau Summit
The transaction is expected to close in early 2025.
Vietnam’s owned Vietnam National Chemical Group (Vinachem) has begun construction work at its $522 million potash project, located in neighbouring Laos.
The endeavour, a joint venture between Vinachem and Viet Lao Chemical and Rock Salt Co. (Vilachemsalt), is considered one of the largest outbound investments made by a Vietnamese firm in history, Vietnam News Agency reports.
The project is expected to produce 320,000 metric tons of potash salt per year, which will help reduce the two countries’ reliance on imported potash fertilizers.
It will also ease the shortage of industrial salt against the abundant supply of edible salt in Vietnam.
(Image by Dennis Jarvis | Flickr)
