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SQC to list 100 million shares at HNX
Tuesday, 10 November 2009 14:24

On 23 Nov, Saigon-Quy Nhon Mining Corporation (SQC, member of Saigon Invest Group – SGI) submitted the registration dossier to list 100 million shares in HNX, after a capital increase from 540 billion to 1,000 billion VND.

Thus, SQC, Kinh Bac City (KBC) and SaigonTel (SGT) have all become public companies listed at the stock market of Vietnam.

SQC is headquartered at Lot B6, Street 5, Nhon Hoi IP, Quy Nhon City, Binh Dinh Province. The corporation's main activity is mining, processing and purchasing Titanium ores and post-Titanium products.

In July 2009, SQC has taken the biggest Titanium slag manufacture in Vietnam at Phu My District (Binh Dinh) into operation. The project has total investment of 1,000 billion VND. In particular, period 1 has 500 billion VND with the output of two reactors of 24,000 tons slag per year (purity 93%). In addition, the plant also produces 12,000 tons of high-endurance iron per year.

Period 2 will have three more furnaces, increasing the output of slag to 36,000 tons per year and of iron to 18,000 tons per year. In total, the five furnaces produce 60,000 tons of Titanium slag and 30,000 tons of iron per year.

This project aims to increase the value of natural resources (raw materials increased by 20 times), creating jobs for 500 workers and contributing to the local budget hundreds of billion VND.

Le Duy

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Updated: 21-October-2011