Vinacomin’s 9-month growth hits highest level in sector

Friday, Oct 11, 2019 20:51

A Vinacomin coal mine. — Photo courtesy of Vinacomin

The Viet Nam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) posted a growth of 14 per cent over the past nine months of 2019, the highest level in the industrial sector.

From the beginning of the year to the end of September, Vinacomin produced 30 million tonnes of coal, up 2.1 million tonnes year-on-year, or equivalent to 75 per cent of the yearly target.

The company sold more than 33 million tonnes of coal during the period, a yearly rise of 8 per cent. Of the sum, nearly 27 million tonnes of coal was provided for thermal power plants, up 23 per cent year-on-year.

Thanks to the positive performance, its revenue reached more than VND98.4 trillion (US$4.2 billion) in January-September, surging 17 per cent over the same period last year or making up 77 per cent of its yearly target.

Vinacomin has set a goal of producing 40 million tonnes of coal and selling 42 million tonnes of coal by the end of this year. It is also striving to generate revenue of VND130 trillion, contributing VND17.8 trillion to the State budget.

Its coal production output was 36.95 million tonnes last year with sales of 40.5 million tonnes. — VNS

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