The prime minister has enacted a key decision approving Vietnam’s cement industry development for 2011-2020 with a vision towards 2030. In light of Decision 1488, Vietnam must finalise conversing cement production technology from current shaft-kin into rotary kiln by late 2015. The decision reads that new cement projects with equipment supply contracts signed after the [...]
Huge borrowing costs have knocked cement firms sideways. According to Vietnam Cement Industry Corporation’s (Vicem) first-half report, Vicem’s member units raked in VND1.541 trillion ($74.4 million) in pre-tax profits in the first six months of 2011, while its mature borrowing costs amounted to VND1.227 trillion ($59.2 million). The report also read that of its seven [...]
Domestic cement companies are seeking new outlets such as Bangladesh, Africa, Hong Kong, Singapore and Myanmar. The Viet Nam Cement Industry Corp (Vicem), the country’s leading cement producer, last month made a trip to Myanmar to explore the market there. Myanmar had a huge demand for cement as its factories had failed to meet domestic [...]
Domestic cement consumption this year is expected to be as low as 52.5 million tonnes due to a reduction in the number of local building projects, the Vietnam Cement Association has said. Aggravating the situation was an oversupply throughout the industry, while local and export demand was sluggish, the association said. By mid-July, the cement [...]
Cement distributors said the sales in the recent time declined about 20% because of cooling construction market, the state-run Tuoi Tre newspaper reported. On July 1, Vo Van Van, information announcer of Ha Tien 1 Cement Joint Stock Company confirmed his firm had sent a document to Ministry of Finance’s Price Management Department to propose [...]
Africa, especially its western regions, is fast becoming a profitable market for Vietnamese cement manufacturers due to high demand and limited production capacity, according to domestic traders. The cement market in West Africa has undergone difficult times in recent years with high prices and little supply. Foreign companies such as Vicat, French Amida and Swiss [...]
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