The country's largest mining firm, Vietnam National Coal and Mineral Industries (Vinacomin), plans to issue 3,000 domestic bonds this year at 1 billion VND (48,000 USD) each.
The bond term will be for 5-7 years.
Chairman of the group's member council Tran Xuan Hoa said the capital mobilised from the bond issuance will be used to boost investment, business and production operations.
The group pledged it will manage and use the capital in accordance with its set purposes. The 2012 bonds will be a safe and effective investment, it said.
As part of a joint venture, acting as an issuance agent, Deputy General Director of Vietnam Bank for Industry and Trade (Vietin Bank) Le Duc Tho said the bonds ưill ẹnoy floating interest to be paid annually.
Deputy General Director of Vinacomin Nguyen Van Bien said his group will use the capital for projects in the 2011-15 period, which have already been approved by the Prime Minister. These projects are very important in contributing to ensure the economy's need for coal and natural minerals and national energy securities as well as economic development.
A report made after auditing showed the group's revenue reached 87.6 trillion VND (4.3 billion USD) in 2011, making a profit of 8.6 trillion VND (413 million USD).
The group is estimated to earn 96 billion VND (4.6 trillion USD) this year.
At present, Vinacomin has been exploiting 23 open-cast coal mines and 46 coal pits. An alumina production factory, the first of its kind in Vietnam , will come into operation by the fourth quarter of this year. Another will be operational at the same time next year.
The group has five electricity plants with a total capacity of 1,110MW and is building four others with a total capacity of 720 MW.-VNA
The bond term will be for 5-7 years.
Chairman of the group's member council Tran Xuan Hoa said the capital mobilised from the bond issuance will be used to boost investment, business and production operations.
The group pledged it will manage and use the capital in accordance with its set purposes. The 2012 bonds will be a safe and effective investment, it said.
As part of a joint venture, acting as an issuance agent, Deputy General Director of Vietnam Bank for Industry and Trade (Vietin Bank) Le Duc Tho said the bonds ưill ẹnoy floating interest to be paid annually.
Deputy General Director of Vinacomin Nguyen Van Bien said his group will use the capital for projects in the 2011-15 period, which have already been approved by the Prime Minister. These projects are very important in contributing to ensure the economy's need for coal and natural minerals and national energy securities as well as economic development.
A report made after auditing showed the group's revenue reached 87.6 trillion VND (4.3 billion USD) in 2011, making a profit of 8.6 trillion VND (413 million USD).
The group is estimated to earn 96 billion VND (4.6 trillion USD) this year.
At present, Vinacomin has been exploiting 23 open-cast coal mines and 46 coal pits. An alumina production factory, the first of its kind in Vietnam , will come into operation by the fourth quarter of this year. Another will be operational at the same time next year.
The group has five electricity plants with a total capacity of 1,110MW and is building four others with a total capacity of 720 MW.-VNA
