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Vinacomin posts high coal output, consumption

Update: April, 05/2018 - 14:50
The coal consumption in March was the highest so far reaching 4.1 million tonnes. — Photo vietnamfinance.vn
Viet Nam News

HÀ NỘI — The Việt Nam National Coal and Mineral Group (Vinacomin) reported that its coal production and consumption had surpassed the set targets for the first quarter of the year.

Vinacomin said its coal output in the three-month period reached 9.4 million tonnes, while the consumption was 9.8 million, meeting 27 per cent and 27.3 per cent of the whole year’s production and consumption targets.

The coal consumption in March was the highest so far reaching 4.1 million tonnes owing to favourable weather conditions and the high demand for coal in electricity production.

Vinacomin has targeted a coal output of 3.5 million tonnes and consumption of 3.7 million tonnes this month. The group has plans to meet 52 per cent of the whole year’s target in the first half of the year.

It has asked member units to enhance production and actively produce coal with high demand in the market.

Vinacomin’s total revenue in 2017 reached VNĐ109.2 trillion (US$4.8 billion), posting a 7.3 per cent year-on-year increase. Its profit was estimated at VNĐ2.5 trillion, up VNĐ1.5 trillion from 2016. It contributed VNĐ13.4 trillion to the State budget.

In 2017, Vinacomin’s coal consumption was estimated at 35.5 million tonnes. Of this, the local coal consumption was 34 million tonnes and the remaining was exported. — VNS

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