Coal corporation speeds up implementation of key projects

Hanoi (VNA) – The Vietnam National Coal - Mineral Industries Holding Corporation Limited (Vinacomin) is speeding up investments in key projects to ensure the corporation’s sustainable development in 2021.

According to Vinacomin President and CEO Dang Thanh Hai, despite impact of the COVID-19 pandemic and natural disasters, Vinacomin achieved positive results.

Last year, Vinacomin produced 38.47 million tonnes of raw coal, imported 9.65 million tonnes, and sold 42 million tonnes.

Its 2020 turnover stood at 123.42 trillion VND (5.35 billion USD), exceeding the adjusted target by 1 percent and equivalent to 89 percent of the result recorded in 2019.

Profit was 2.6 trillion VND, reaching the target set and equivalent to half of 2019’s figure.

Vinacomin contributed 19.5 trillion VND to the State budget during the year, surpassing the target by 2 percent.

The corporation also ensured employment and incomes for more than 96,000 employees.

This year, Vinacomin plans to reduce its coal imports in 2021 to 1.4 million tonnes.

It also targets posting 123.88 trillion VND (5.35 billion USD) in turnover and 3 trillion VND in profit, while maintaining wages and coal sales and exploitation at 2020 levels.

To that end, it has mapped out 12 specific solutions, focusing on developing mines with large output, market forecasting, and coal and mineral exploration.

The corporation will also push ahead with scientific-technological application, increase productivity, raise product quality, and seek new investment projects while not investing in external sectors./.