Vinacomin posts noted performance in Q1 hinh anh 1The coal sector alone generated more than 16.88 trillion VND (725.84 million USD) in the first quarer of this year, up 13 percent year-on-year. (Photo: VNA) 

Quang Ninh (VNA)
– The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) recorded its best production and business in the first quarter of this year since 2014, Vinacomin Deputy General Director Nguyen Hoang Trung has said.

Trung reported at a conference in the northern province of Quang Ninh on April 9 that the group earned 31.2 trillion VND (1.34 billion USD) in total revenue, 24.4 percent of the yearly target and up 2.8 percent year-on-year.

It posted a profit of more than 1 trillion VND (43 million USD), equivalent to 33 percent of the yearly target, and contributed 5.75 trillion VND (247.25 million USD) to the State budget, fulfilling 33 percent of the set target, he said.

The coal sector alone generated more than 16.88 trillion VND (725.84 million USD), up 13 percent over the same period last year.

During the period, the group churned out 10.79 million tonnes of coal, up 1.12 million tonnes compared with the corresponding time last year.

It sold 10.5 million tonnes of coal in the quarter, 25 percent of the year’s target and up 10 percent year-on-year, with 10.46 million tonnes delivered domestically.

Coal demand for the production of electricity, cement and fertilisers is expected to increase, so Vinacomin will maintain coal production and consumption at the highest level in the second quarter to meet demand.

It also aims to complete from 54-55 percent of the yearly target in the first half of this year. The group plans to produce 10.8 million tonnes of coal and sell 12.2 million tonnes in the second quarter.-VNA