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Gov't urged to raise price of coal

Update: February, 14/2012 - 10:36

HA NOI — The Viet Nam Coal and Mineral Industries Holding Corp Ltd (Vinacomin) plans to urge the Government to increase the price coal-fired power plants pay for coal, said Le Minh Chuan, Vinacomin's managing director.

Coal production costs were at about VND1 million (US$47.6) per tonne while selling prices to power plants are only VND600,000 per tonne ($28.5).

Chuan said it was difficult for Vinacomin to balance its capital for reinvestment with the current prices. Vinacomin has planned to export around 13.5 million tonnes of coal this year at an average price of $100 per tonne.-VNS

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