The Prime Minister has agreed to export 2.05 million tons of coal per year

The Prime Minister has agreed to export 2.05 million tons of coal per year - 

The Prime Minister has accepted the suggestion of Ministry of Industry and Trade (MoIT) for exporting 2.05 million tons of coal per year in 2016-2020 period including 2.0 million tons of Vinacomin and 50thousand tons of Northeast Corporation.

According to MoIT, in 2011-2015 period coal export was strongly decreased from 16.979 million tons in 2011 to 6.125 million tons in 2015 and to only 1.2 million tons in 2015. This situation was suitable with the coal industry development planning in 2011-2015 period, approved by the Prime Minister

In 2016-2020period, according to Adjustment Project of Power Development Planning VII, domestic coal demand for the power sector would be strongly increased. So to guarantee the national energy security and on the basic of calculating coal supply-demand balance for domestic customers with a first priority for power sector, then for the rest ones leading to a result that the domestic customers do not use an amount of cobbles and coal dusts of high quality (No 1,2,3) fluctuating around 2.1 million tons per year from now to 2030.

It is necessary to note that, to use cobbles and coal dusts of high quality for thermal power plants is not effective due to a ton of the cobbles and dusts equivalent to 1.5 – 2.0 tons of coal dusts for power generation.

MoIT considers, cobbles and coal dusts export to Japan will facilitate Japanese government to consider providing credits for Vietnam coal industry without Vietnamese government guarantee with a preferential interest during 5 years. The Japan Bank of International Cooperation (JBIC) also continuously considers providing credits for Vietnam coal industry in 2016-2020 period and following years.

That’s not to mention a series of activities for human resources training support as the project for human resources training, coal mining and safety engineering transfer by Japan National Petroleum and Minerals Group that is being implemented at the 14th year with an accumulated sum of US$ 85 million, and the project on human resources training for Center of mining gas management by Japan International Cooperation Agency (JICA) with a budged of US$100 million… All these activities are aiming to buy high-quality coal of Vietnam.

Besides, there still the other destination for 1.0 million tons per year of coal export that is South Korea. This also creates good conditions for Vietnam coal industry to obtain the long term foreign credits with insurance of South Korea.

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