Approving 2020 production, business and investment plans of Vinacomin

Approving 2020 production, business and investment plans of Vinacomin - 

The State Capital Management Committee in the Enterprises (SCMC) has just issued Decision No.77-QD/ UBQLV to approve 2020 production, business and development investment plans for parent company - Vietnam Coal and Mineral Industries Group (Vinacomin).

Accordingly, in 2020, Vinacomin will complete the tasks assigned by the competent authorities and Resolution No. 01 / NQ-CP dated January 01, 2020 of the Government on the main tasks and solutions to implement the socio-economic development plan and state budget estimate in 2020; continue to arrange, equitize and divest capital in the period of 2017-2020 according to Decision No. 2006/QD-TKV dated 12/12/2017; improve productivity and labor efficiency; improve income for employees on the basis of integration with production, business results and labor productivity.

The main targets of Vinacomin in 2020 include: producing finished coal of 24.9 million tons, selling coal of 60.7 million tons, achieving the total turnover of VND 114,376 billion and before tax profits of VND 2,000 billion ...

Regarding the solutions for implementation, the SCMC requested the Members' Council, General Director of Vinacomin to implement 2020 production, business and investment plans in accordance with the regulations of the laws, ensure the production and business of the Vinacomin enterprises to obey the market mechanisms, preserve and increase the state capital invested in the enterprises.

Besides, Vinacomin must review all the projects, which expected to be invested in 2020. The investment projects must be invested in accordance with the regulations of the laws.

An investment decision only implemented for a project that really necessary for Vinacomin.

In 2019, Vinacomin produced 40.5 million tons of raw coal accounting 101% year plan, selling 44.02 million tons as 105 % year plan, among which domestic coal sale reached 42.95 million tons, equal to 108% coal sale in 2018. Coal for electricity generation was 36.06 million tons increasing 6.8 million tons and 24% compared to the amount in 2018.

Imported coal was 6.5 million tons, equal to 141% year plan, increasing 5.7 million tons compared to the amount in 2018.

Aluminum production achieved 1.36 million tons, exceeded design capacity by 5% in both Tan Rai and Nhan Co plants and aluminum sale was 1.39 million tons exceeded the plan by 7%.

The electricity generation had a positive contribution in ensuring electricity supply for production and consumption. The other production sectors as industrial explosives, mechanical products ... and the mineral survey and exploration were guaranteed.

In 2019 the total turnover of Vinacomin reached VND 131.5 trillion, increasing 9% compared to 2018; contributed to the State Budget VND 18.1 trillion, increasing VND 1.5 trillion compared to the amount in 2018, achieved a profit of over VND 4,000 billion, increasing 1,000 billion compared to the year plan.


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