Vinacomin Plans Investment Capital of US$762.5 Mln for 2008
Vietnam National Coal and Mineral Industries Group (Vinacomin), the country’s top miner, plans to invest VND12.2 trillion (US$762.5 million) into construction and technology modernization in 2008, a rise of 28 per cent against 2007.
The mining company will use the sum to modernize coal mines and coal sorting factories in the period of 2006-2010, including Khe Cham II, Khe Cham III, Khe Cham VI, Nga Hai, Dong Dung (Mao Khe), Dong Trang Bach and Bac Coc Sau.
The group will also invest in Nong Son and Cam Pha thermo-power plants, minerals processing projects, and expand the Sin Quyen copper mine.
In 2008, Vinacomin plans to produce 40 million tons of coal, 370,000 tons of ores, assembly 400 automobiles, generate 1.135 billion kWh of electricity to make revenues of VND40 trillion (US$2.5 billion), including VND24.6 trillion from coal shipment.
In 2007, the company earned revenues of VND32.8 trillion (US$2.05 billion), of which, VND20.5 trillion (US$1.28 billion) came from coal. (Vietnam Industrial Times)
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