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Vinacomin implements implement the group’s business plans in the year 2016

Vinacomin implements implement the group’s business plans in the year 2016 - 

On December 24, 2014 in Ha Long City, Vietnam National Coal and Minerals Industries Group held a meeting to implement the group’s business plans in the year 2016.

According to Mr. Nguyen Van Bien – Deputy General Director of Vinacomin, the Group has faced numerous difficulties in 2015. Specially the historic flood in the northern province of Quang Ninh over July 26 - August 3 had affected Vinacomin's operations this year. However, by promoting the tradition "Discipline and unity", and concentrate at highest level on coal production and business, the staff of Vinacomin has surmounted all difficulties and challenges efforts to implement its objectives.

The main results in 2015:

- Coal production: 37.2 million tons

- Coal consumption: 35.5 million tons

- Total revenue: VND105,494 billion

- Net profit: VND500 billion

- Contribution to the State budget: VND53,600 billion

- Average income: VND8.6 million per person per month.

2016 is forecasted continues to be a difficult year. Vinacomin targets to produce 39.87 million tonnes of coal, sell 38 million tonnes of coal, and earn VND110,016 billion this year. To achieve its 2015 targets, Vinacomin will focus on improving technology to boosting production. Vinacomin’s Board Chairman Le Minh Chuan emphasized, the Group will continue to promote investment in construction, scientific development, technological innovation, modernization of production facilities, improvement of safety level, environmental protection and also guarantee progress of the projects that decide the growth rate of the Group in the fields to complete the plan in 2015-2020 period. Vinacomin also concentrate on developing human resource of the Group on the basis of business philosophy of modern managerial model for both making benefits and developing a staff of faithful and creative mine employees (managers, senior administrators, experts and technical workers…) in all fields. It is a very key to create productivity and sustainable development of the Group.

Vinacomin’s President and CEO Dang Thanh Hai also directed its member units to closely follow the domestic and international market price fluctuations for coal consumption to reduce inventories and implement a variety of measures to ensure production cost savings.

Source: Vinacomin

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