Vietnam Urged Firms to Boost Cement Exports to Reduce Glut

The Vietnamese Ministry of Construction has requested three cement firms to seek more export markets for their products amid the country’s forecast glut of one and two million tons this year.

Chinfon Cement Corporation, Nghi Son Cement Corporation and Phuc Son Cement Company were urged to export between 100,000 and 150,000 tons of cement each in the second half of 2010, 50% of their output in 2011 and all their products from 2012, the MoC said on its website.

The ministry required cement joint ventures to coordinate with Vietnam Cement Industry Corporation (Vicem) to transport cement and clinker from the north to the central and southern regions to stabilize prices.

Vicem, which holds about 40% of Vietnam’s cement market share, targets to sell export one million tons of cement abroad in 2010, aiming to reduce the country’s foreseeable surplus. The corporation, however, failed to export half of the volume in the first half.

The corporation’s affiliates such as Cam Pha, Hoang Thach, Ha Tien 1 and Ha Tien 2 have exported cement to America, Africa, Asian countries and the Middle East in recent years but the volumes remain modest.

Vietnam’s cement sales are forecast to reach 50 million and 51.5 million tons in 2010, up 11% on-year.

Tags: Vietnam cement, Vietnam cement industry

Posted by VBN on Jul 21 2010. Filed under Cement. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry