Vinacomin targets total revenue of 113.8 trillion VND, profit of 2 trillion VND and contribution of 13.6 trillion VND to the State budget in 2018.
(Photo: VNA)
Hanoi (VNA) - Deputy Prime MinisterTrinh Dinh Dung has asked the Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin)to focus on labour and environmental safety as it develops a specialisedmanagement model.
Dung was speaking at a conference held in Hanoion January 16 to sum up Vinacomin’s operations in 2017 and launch tasks for2018.
“The group should continue to develop drasticsolutions to ensure labour safety. It is also required to ensure environmentalprotection and consider it as a top requirement in production,” he said.
Dung hailed Vinacomin’s contributions to thecountry’s development in 2017.
He asked the group to strengthen discipline inexploitation and preventing trade fraud.
He also highlighted the group’s shortcomings inexploiting unsuitable coals, which resulted in large inventory without meetingcustomers’ requirements.
The application of science and technology inthe exploitation and processing of the group’s main products has beenundertaken slowly. Some investment projects have been delayed or ineffective,causing losses in State capital.
The Deputy PM said this year would determinethe country’s success in completing the five-year socio-economic developmentplan in the 2016-20 period, creating heavy pressure for the coal and mineralssector.
Vinacomin was also asked to enhance themobilisation of social resources to attract investment into projects to upgradecurrent mines to increase coal output for the economy.
Vinacomin should focus onrestructuring its investments to create highly competitive products. This wouldhelp the group improve productivity, quality and effectiveness. It should also enhance itsrelationship with localities and partners both inside and outside the country.
Vinacomin’s total revenue in 2017 reached 109.2 trillion VND (4.8billion USD), posting a 7.3 percent year-on-year increase. Its profit was estimatedat 2.5 trillion VND, up 1.5 trillion VND from 2016. It contributed 13.4trillion VND to the State budget.
Dang Thanh Hai, Vinacomin’s general director,said the profit was partly contributed by its two aluminum plants producing1.14 million tonnes. Revenue from the two plants was 8.6 trillion VND. Nhan CoAluminum Plant alone posted an output of 501,000 tonnes or 80 percent of itsdesigned capital.
In 2017, Vinacomin’s coal consumption wasestimated at 35.5 million tonnes. Of this, the local coal consumption was 34million tonnes and the remaining was exported.
Hai said by the end of last year, the group had 104,500 labourers,6,000 people fewer than the previous year.
Its labour productivity rose by 8.6 percent from 2016 with theaverage salary of 9.4 million VND per month.
The group’s electricity output last year reached 9.38 billion kWh,increasing 10 percent from the previous year.
“Vinacomin will invest 12.8 trillion VND in parent companies andits subsidiaries in 2018,” he said.
He added that the group also aimed to produce and consume 36million tonnes of coal this year including 34.1 million tonnes for localconsumption and 1.9 million tonnes of exports.
It targeted total revenue of 113.8 trillion VND, profit of 2trillion VND and contributions of 13.6 trillion VND to the State budget in 2018.
The aluminum output was scheduled at 1.23 million tonnes.
The group planned to reduce its payroll by some 4,500 people tobring its total staff to 100,000.-VNA
VNA
