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Vinacomin targets $4.8b turnover

Update: January, 06/2016 - 08:15

Coal exploitation at Khanh Hoa Coal Company in Thai Nguyen Province's Phu Luong District. — VNA/VNS Photo Hoang Nguyen

HA NOI (VNS) — The Viet Nam National Coal and Mineral Industries Group (Vinacomin) anticipates a turnover of VND110 trillion (US$4.8 billion) this year, along with an average salary of VND9.1 million ($404) per worker in 2016.

Vinacomin said, during a conference to launch business plans for 2016, held recently in the northestern province of Quang Ninh, that it planned to mine 39.87 million tonnes of coal, while consuming 38 million tones.

The group also said they would strive to reach their targets this year, despite the challenges and difficulties.

Last year, Vinacomin and its units worked to stabilise production and income for labourers, while ensuring the companies' finances remain balanced. Its turnover in 2015 reached VND105.5 trillion ($4.68 billion), posting a three per cent year-on-year rise. Of which, turnover from coal production was VND53.6 trillion ($2.38 billion) with estimated profits of VND500 billion ($22.2 million).

The company contributed VND12.5 trillion to the State budget, posting 8 per cent higher tax revenues than in 2014.

The company employed 124,400 labourers last year, at an average salary of VND8.6 million per month, an increase of 2.5 per cent from the previous year.

Also, some 9.2 million workers were employed in coal production, which was 3.5 per cent higher than in 2014. — VNS

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