Vinacomin sets to sell 36 million tons of coal in 2018

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

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

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

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

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

As heard at the function, in 2017, Vinacomin posted VND 107 trillion (USD 4.7 billion) in revenue, up 6.1 percent year on year. Coal production contributed VND 53.6 trillion (USD 2.35 billion) to the total.

The group’s profit stayed at VND 2 trillion (USD 88 million), doubling that of 2016. It added VND 13.4 trillion (USD 589.6 million) to the State budget, an annual growth of VND 400 billion (USD 17.6 million).

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

Source: VNA