Coal mining group Vinacomin urged to ensure power supply for economic growth

Friday, 2020-01-10 15:31:14
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Deputy PM Trinh Dinh Dung speaking at Vinacomin's conference (Photo: VGP)
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NDO - Deputy PM Trinh Dinh Dung asked Vinacomin, Vietnam’s state-own coal and mining group, to focus its business on meeting the market demand, especially in regards to coal, to help ensure there is adequate power supply for futher economic development.

The request was made at a conference on January 10 to review Vinacomin’s performance in 2019 and to kick start the tasks for 2020.

He also urged the company to pay close attention to environmental protection during its operations and work with coal-fired power plants to handle coal ash and slag efficiently.

According to the Deputy PM, the main challenge Vinacomin is facing is an ever growing demand for coal, especially coal to generate power, while domestic mining is increasingly difficult and the quality of Vietnamese coal does not meet the requirements of power plants.

Under the latest power development plan, Vietnam will needs 55,000 megawatts in 2020, 100,000 megawatts in 2025 and 140,000 megawatts in 2030.

The capacity of coal-fired power plants is currently 20,000 megawatts and is expected to increase to 40,000 megawatts in 2025 and 50,000 megawatts in 2030.

In order to reach such capacities, Vietnam will need 50 million tonnes of coal in 2020, 76 million tonnes in 2025 and 100 million tonnes in 2030.

Speaking at the conference, Vinacomin General Director Dang Thanh Hai said the group aims to produce 40.5 million tonnes of coal in 2020, and generate revenues of VND138 trillion (nearly US$6 billion) and profits of VND3.5 trillion (US$151 million).

Hai added that the group will fine-tune its coal production and trade model, while paying close attention to logistics as well as enhancing corporate management in order to realise such goals.

Vinacomin will also step up their implementation of approved projects to ensure their sustainable development, Hai said.