Deputy Prime Minister: Ensuring coal supply is an essential duty

Deputy Prime Minister:  Ensuring  coal supply is an essential duty - 

Deputy Prime Minister Hoang Trung Hai highly values growth rate of Vinacomin’s business and production targets in 2014

Deputy PM Hoang Trung Hai speaking at the conference.

Energy shortage in Vietnam

Speaking at the conference for summing up 2014 and implementing 2015 plans of Vinacomin on January 13, the Deputy Prime Minister Hoang Trung Hai appreciated Vinacomin’s efforts in renovating business administration, speeding up investment and applying new technologies.

Vinacomin member companies tried to stabilize production, jobs and income for employees. Infrastructure and environment in the mining areas have been remarkably improved, though there are still shortcomings in production and business.

In 2014, Vinacomin produced 37.4 million ton of raw coal accounting 99.2% yearly plan and 97% in comparison with 2013 plan. The coal export reached 5.94 million ton accounting 74% yearly plan and 56% in comparison with 2013 plan.

The expected basic construction investment was VND20.3 trillion ($954 million) in 2014, equal to 89% of the adjusted plan.

Pressure in 2015

In 2014, contribution of Vinacomin to pay to the state budget was expected about VND12 trillion ($564 million) accounting 111% yearly plan and increasing 10% in comparison with that in 2013, although the Group encountered a lot of difficulties and challenges, shared Vinacomin’s general director Dang Thanh Hai.

In 2015, basing on the actual situation, Vinacomin sets a VND23.8 trillion ($1.12 billion) investment capital target for fundamental construction investment (117.3% 2014 implemented one). The coal sale target is 38 million ton, of which 3 million ton for the export.

The coal production plan of Vinacomin in 2015 is to reach a coal mining goal of 48.8 million ton, including 18.1 million ton of open mining and 22.7 million ton of pit mining. Clean coal amount will reach 37.3 million ton, of which 35 million ton from raw coal.

Regarding the mineral industry, beside the products as copper sheets, zinc lumps and tin, the Vinacomin Mineral Corpration subsidiaries have set the production plans for 2015 as follows: Lam Dong and Nhan Co Aluminum companies – 660 thousand ton of alumina, Co Dinh Chromic company – 5,200 ton of ferro-chrome, and Thach Khe Iron – 800 thousand ton of iron.

The total commercial electricity production of Vinacomin Power will be 8.6 TWh, and should reach maximally up to 9 TWh if the market requires.

The production targets of industrial explosive material are: 64 thousand ton, dynamite - 105 thousand ton, increasing 2.5 thousand ton over that one in 2014, Ammonium Nitrate - 120 thousand ton at minimum.

The financial targets of Vinacomin in 2015 will be: VND 114 trillion total turnover, 13 trillion budge payment and 1.5 trillion interest.

In 2015, Vinacomin will try to implement the sector restructuring project in accordance with the Prime Minister Decision number 314/QD-TTg for the 2012-2015 period, as well .

According to Mr. Hoang Trung Hai, in order to achieve the 2015 targets, Vinacomin has to carry out three focusing duties as speeding up and promoting efficiency of production and business; speeding up investment, renewing technologies and ensuring project implementation progress; and continuing to perfect and promote management efficiency.

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