Vinacomin sets to sell 36 million tonnes of coal in 2018

Monday, 2017-12-25 22:17:23
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The Vietnam National Coal and Mineral Industries Corporation (Vinacomin) set a goal of selling about 36 million tonnes of coal in 2018. (Photo: VNA)
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NDO/VNA – The Vietnam National Coal and Mineral Industries Corporation (Vinacomin) set a goal of selling about 36 million tonnes of coal in 2018, up 2.5 million tonnes compared to 2017.

The figure was released at a conference to review the group’s business plan and contracts for 2018, which was held on December 25.

Vinacomin said it plans to export 1.9 million tonnes of coal next year, an annual increase of 400,000 tonnes, while importing about 500,000 tonnes of coal.

Coal inventory was also set to be cut to 8 million tonnes in 2018 from over 10 million this year.

To realise these goals, the group said it has promptly signed mining and production contracts with its subsidiaries in line with the market demand and environment protection regulation.

As heard at the function, in 2017, Vinacomin posted VND107 trillion (US$4.7 billion) in revenue, up 6.1% year on year. Coal production contributed VND53.6 trillion (US$2.35 billion) to the total.

The group’s profit stayed at VND2 trillion (US$88 million), doubling that of 2016. It added VND13.4 trillion (US$589.6 million) to the State budget, an annual growth of VND400 billion (US$17.6 million).

Following structure restructuring during the year, Vinacomin now owns 100-percent stake in four out of its 47 subsidiaries.