Total electricity production of 3.3 billion kWh in the first six months of the year shows Vinacomin is well-prepared for the looming competitive electricity generation market, the group said in a statement.
Vinacomin , the Viet Nam National Coal and Mineral Industries Group, would strive to achieve its annual target of electricity generation while it would also establish new thermo-electricity plants, the statement said.
During the first six months, the Na Duong thermo-electricity plant, which is owned by the group, yielded around 406 million kWh of electricity which was 56.4 per cent of the year's target for the plant. The electricity produced by Vinacomin's Cao Ngan plant was 420 million kWh of electricity, accounting for 56 per cent of the year's target.
Vinacomin said its Son Dong plant produced 737 million kWh of electricity, nearly 56 per cent of the annual target while the group's Cam Pha plant generated over 1.7 million kWh of electricity or 43 per cent of the year's plan.
Meanwhile, the US$577 million Mao Khe-Vinacomin plant began supplying the national grid after 36 months of construction. The plant, situated in the northern coal-mining province of Quang Ninh, has a combined capacity of 440MW. Also, the Hai Phong plant was ready for investment bids.
Quynh Lap 1 power plan was submitted in March for Ministry of Natural Resources and Environment approval. Vinacomin expected to earn around VND5.4 trillion ($257 million) a year from electricity generation which would help cover its predicted loss of up to VND8.5 trillion ($405 million) this year. The loss will occur because the State-owned group mines and sells coal to other Vietnamese thermo-electricity plant owners at a subsidised price which is lower than the world market.
Source: Vietnamnet Bridge