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Coal group targets 9 per cent revenue spike

Update: June, 22/2018 - 14:59
Workers at a coal mine of Vinacomin in Quảng Ninh Province. — Photo VNA/VNS Trọng Đạt
Viet Nam News

HÀ NỘI — The Việt Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) in revenues in 2018, up 9.3 per cent year-on-year.

It also plans to contribute VNĐ14.5 trillion to the State Budget, up VNĐ900 billion compared to its annual target.

In the first six months of this year, the group’s coal production reached 20.27 million tonnes, reaching 57 per cent of its yearly target. Coal consumption touched 21.6 million tonnes, equivalent to 60 per cent of the year’s target, of which 20.7 million tonnes were consumed domestically while 900,000 tonnes were exported.

Alumina production reached 660,000 tonnes, meeting 54 per cent of the annual target. Electrical production hit 5.1 billion kWh, representing 55 per cent of the target for the year.

The group’s total revenue and profit in six months were estimated at VNĐ62.6 trillion and VNĐ1.5 trillion, respectively.

Average salary stood at VNĐ10.2 million per person per month, equivalent to 103.6 per cent of the target for the year and up by 12 per cent compared to the same period last year. — VNS


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