Vinacomin gets down to business

Vietnam Investment Review

January 16, 2012

Page 10

State-owned Vietnam Coal and Mineral Industries Group of Vinacomin is covering serious ground with a strong of large project.

The miner’s Lam Dong aluminum-bauxite complex project in the Central Highland – one of the country’s key industrial protects and Vinacomin’s largest – is expected to produce its first alumina in a matter of weeks. The construction has met both the schedule and quality standards laid out by Vinacomin.

With total investment of VND11 trillion ($523.8 million), the plant will annually produce 600,000 tons of alumina for the first phase from 2011-2015 and 1.2-1.8 million tons after that date.

The miner is also building its second bauxite refinery in the Central Highland’s Dak Nong province. Construction kicked-off in early 2010 for the refinery with design capacity of 600,000 tons of alumina per year. It is expected to come online by the end of 2012. The refinery’s alumina output is projected to double in the second phase after 2016.

Vinacomin is also the country’s third largest power investor and will put the 440 MW Mao Khe themal power plant into operation this year. The plant will contribute about 2.6 billion Kwh to the national grid per year.

The group is also involved in building the 30MW Nong Son project and Dong Nai 5 power plant.

Le Minh Chuan, general director of Vinacomin, said the group was also working on the 100MW Na Duong coal-fired thermal power plant, the 270MW Cam Pha 3 power plant, the 2,400MW Hai Phong 3 thermal power plant which will use domestic and imported coal.

In 2012, Vinacomin is targeting production over 48.9 million tons of coal, 2.5 percent more than last year.

According to Vinacomin, its activities this year would also include the construction and expansion of coal mines such as Khe Cham 3, Cao Son and Nui Beo, among others, as the group plans to increase output to satisfy the demand.

As of this year, it plans to invest around $28.8 million to boost the capacity of existing mines and open new mines to reach a production target of 65 million tons of coal product by 2015.

But Vietnam is forecast to import nearly six million tons of coal by 2015 to meet its demand.

In 2012, Vinacomin plans to make profits of $298.5 million, down from $371 million 2011 and have total revenue of $4.57 billion against $4.47 billion last year.

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