Higher coal ouput targeted

The Vinacomin Group has set a target of 43 million tonnes of coal this year, 25 million tonnes for domestic use and the remainder for export.

The high volume is to meet the rising demand of the country’s largest coal consumers, including the electricity, fertiliser, cement and paper industries, according to the group.

The power industry alone is expected to use more than 11 million tonnes this year compared with 8.4 million last year while the cement industry’s consumption is expected to increase by a further 4 tonnes, according to Tran Xuan Hoa, general director of Vinacomin.

With the rising domestic demand for coal, Vinacomin has had to increase the amount of coal for domestic use by 15 per cent over last year and limit coal for export to 18 million tonnes, a decline of 28 per cent.

To achieve this target, Vinacomin will invest VND31 trillion (US$1.62 billion) on mines, factories, new technology, infrastructure, electric plants and research programmes as well as housing for workers, staff training courses and improving medical conditions.

The group has also set targets in other sectors including manufacturing and assembling more than 400 cars, generating 3,422 million KWh of electricity, producing 140 thousand tonnes of industrial explosives and 800 thousand tonnes of cement.

In 2010, Vinacomin is expected to make over VND62 trillion ($3.3 billion) in revenue, in which the revenue from coal-mining Quang Ninh province alone is estimated to be VND52 trillion ($2.7 billion), an increase of 6 per cent compared to 2009.

Last year, the group reached VND58.5 trillion ($3.07 billion) in total revenue, of which VND35.9 trillion ($1.9 billion) came from coal.

VietnamNews

Tags: Vietnam Coal, Vietnam mining