Four out of the 16 cement plant projects, which were guaranteed by the government when borrowing capital from foreign sources, have entreated help of the Ministry of Finance to pay due debts. The blunders made by Vietnam in the past when building blast furnace cement plants are repeating. In 2010, China “declared the death” of [...]
The four cement projects that recently call for government aids in settling foreign debts is only the tip of the iceberg as many other cement businesses are in crisis due to their out-dated Chinese equipment and technology. According to Saigon Times newspaper, the cement sector has made a mistake in deploying cheap and out-of-date Chinese [...]
The Government will stop guaranteeing overseas borrowings by cement enterprises following a report by the State Auditing Agency that four companies are likely to default on repayment and have sought support from the Ministry of Finance. The Government had guaranteed foreign loans worth US$1.36 billion for 16 State-owned cement companies out of whom Dong Banh, [...]
The Vietnamese government will provide funds to help four cement projects make foreign debt payments, the finance minister said, including one that state media says is unable to service a loan from Australia and New Zealand Banking Group Ltd. The projects were among 16 in the cement sector that had government-guaranteed loans from foreign creditors [...]
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 [...]
Hoang Thach Cement Company, a subsidiary of the Viet Nam Cement Industry Corp (VICEM), plans to upgrade production lines 1 and 2, increasing their capacity by 15-45 per cent to 3,800-4,500 tonnes per day. The company will also install another cement grinder with a capacity of 250 tonnes per hour and cement silos that can [...]
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