Coal industry aims to increase production in H2

08:44 AM @ Monday - 11 August, 2014
The Vietnam National Coal Mineral Industries Group (Vinacomin) hasadjusted this years’ coal production and consumption plans as domesticcoal consumption in the second half of 2014 is expected to rise, theVietnam Economic News reported.

The group set a target toincrease the clean coal output by one million tonnes to over 35 milliontonnes and coal consumption to 35.5 million tonnes, up 500,000 tonnes.

Vinacomin’sreports showed that the group turnover from coal and electricityproduction in the first half of this year (H1) was approximately 55.3trillion VND, representing 52 percent of the years’ plan and 18 percentyear-on-year increase. The group also guaranteed jobs for 126,000laborers.

Vinacomin's General Director Le Minh Chuan said coalconsumption in H1 of the group reached 18.6 million tonnes, equal to54.1 percent of the years’ plan, including 3.9 million tonnes ofexported coal and 14.7 million tonnes of domestic consumption. Coalinventory level until the end of June was 7.5 million tonnes, down onemillion tonne compared with early this year.

Some membercompanies of the group have made significant contributions toVinacomin’s growth during the period such as the Underground MineConstruction Company II and Mong Duong Coal Joint Stock Company.

LeMinh Chuan said in H2, Vinacomin strives to increase turnover by fivepercent, implement technological innovation to improve capacity, reduceproduct prices and increase wages for workers from 5-10 percent. Thegroup has also adjusted coal exploitation up one million tonne and coalconsumption up 500,000 tonnes compared with the earlier plan, includingdomestic consumption of 28 million tonnes and export of 7.5 milliontonnes.

It is expected that in H2, the domestic coal consumptionwill not see sudden changes. However, with the recovery of constructionmaterial market, notably the operation of five cement plants atcapacity of 8.1 million tonnes, there will be more opportunities forcoal consumption in the coming period.

At the Vinacomin’sconference to sum up its production and business activities in H1 andtask implementation in H2, Minister of Industry and Trade Vu Huy Hoangstressed: “The coal industry has to keep making efforts, resolvingdifficulties to complete its set targets as the coal industry couldaffect other sectors such as building materials, fertilizers andpeople’s daily activities.” He also asked the group to accelerate itsrestructuring and focus on its core businesses.-VNA
LinkedInPinterest

OTHERS

More News