4:09:20 PM | 24/10/2008
Prices of coal sold to three big consumers – fertilizer, paper and cement industries – will be adjusted equal to coal production costs, according to the Ministry of Finance (MoF).
Coal prices for electricity industry alone will be increased under a roadmap of electricity price hikes, the ministry said.
Prices of coal for four above big consumers are now 20 per cent-60 per cent lower than coal production costs and 21 per cent-40 per cent cheaper than coal export prices, the MoF added.
Coal prices will sharply rise by 64 per cent-224 per cent in 2009 if there is no rise for prices of coal sold to the above industries, it said.
The ministry further said if continuing to take profits from coal exports to offset for losses from domestic coal sales for the four big consumers, meaning that encouraging coal exports like now (20 million tons/year), Vietnam will have to import coal by 2012, the ministry has warned.
According to Vietnam’s top miner Vinacomin, the country will need 6.48 million tons of coal for electricity production in 2008, 15.3 million tons in 2010, 32.5 million tons in 2012, 43.9 million tons in 2015 and 45.46 million tons in 2020. (Sai Gon Giai Phong)
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