3:57:36 PM | 16/11/2007
Vietnamese Prime Minister Nguyen Tan Dung has recently okayed Vietnam National Coal and Mineral Industries Group (Vinacomin) to explore coal reserves in northern Quang Ninh coal basin, the Government’s Website reported on November 15.
Vinacomin estimated that Vietnam will need $4.5 billion to develop its coal mining projects to 2015, and a vision towards 2025.
The government of Vietnam will sell stakes of SOEs to raise the funds and encourage joint ventures with foreign investors for its projects, Vinacomin noted.
Vietnam is expected to complete the exploration and estimate coal reserves to a 300-meter depth in Quang Ninh coal basin by 2010, and to conduct a survey at the Red River coal basin between 2015 and 2020.
Up to 66.7 per cent of Vietnam’s coal reserves are found in northern Quang Ninh province. Here, the industry will raise annual crude coal output to 52 million tons by 2010, 70 million tons by 2020 and 80 million tons by 2025, from the current 40 million tons.
Vietnam will ease coal exports by 2015 to spare for domestic consumption which is forecast to increase sharply, from 15 million tons in 2005 to 112 million-118 million tons by 2025. (Government Website)
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