RSS Feeds for Approving TKV May 18, 2024 06:45
Vietnam Energy Forum

Approving TKV's production, investment and development plan (period 2021 - 2025)

 - Deputy Prime Minister Tran Hong Ha has just signed Decision No. 1689/QD-TTg, dated December 26 approving the 5-year production, business and development investment plan (period 2021 - 2025) of Vietnam Coal and Mineral Industries Holding Corporation (Vinacomin).

According to the Decision of the Government: The overall goal is to develop Vinacomin into a strong economic group based on developing the fields of the coal industry, bauxite - -aluminum industry, mineral industry, electricity industry, industrial explosives and other industries contributing to ensuring national energy security and the socio-economic development of the country.

In harmony with environmental protection, sustainable development proactively responds to climate change and ensures national defense and security.

In the period 2021 - 2025 Vinacomin will produce 195.019 million tons of commercial coal:

For the coal industry: Focus on developing large-output underground mines according to the criteria "Green modern and high-output mines". Connecting open-cast mines and underground mines into large-capacity mines (open-pit mines with a capacity of over 3.0 million tons/year; underground mines with a capacity of over 2.0 million tons/year). Continue to invest in coal mines according to the National Energy Master Plan (period 2021 - 2030 with a vision to 2050) approved by the Prime Minister. Striving for the period 2021 - 2025 to produce 195.019 million tons of commercial coal, import 48.183 million tons and sell 243.060 million tons.

Promote exploration and assessment of coal reserves to prepare a reliable resource base for stable, long-term development. Striving in the period 2021 - 2025, the Coal Group will complete 5 coal mine exploration projects and apply for 9 exploration projects.

B the mineral industry Vinacomin strives to become a leading enterprise in the non-ferrous metal industry in Vietnam and the region with the Group's total non-ferrous metal volume (period 2021 - 2025) expected to produce 138,958 tons of copper sheets, 6,839 thousand tons of Alumina.

Focus on effectively exploiting two alumina projects in Lam Dong and Dak Nong alumina, strengthening/increasing the capacities of these plants. Investing in expanding Tan Rai and Nhan Co projects by the planning processing exploring and using of minerals (in the period 2021 - 2030, with a vision to 2050) approved by the Prime Minister.

Focus on working with ministries, agencies and localities to continue handling problematic mineral exploitation and processing projects such as the Co Dinh chromite mine, Thach Khe iron mine, Binh Thuan titanium mine and Dong Pao rare earth mime.

The Electricity industry field: to manage and operate existing power plants to ensure safety and promote design capacity. Striving to produce 49,405 million kWh in the period 2021 - 2025 (for averaging about 9,881 million kWh/year). Research to deploy several new energy and renewable energy projects.

Solutions to increase labor productivity:

- Direct and manage production and business by market development demands for ensuring effective production and business.

- Proactively update information, survey, analyze and forecast the market as a basis for orienting production and product sales.

- Strengthen resource management and product quality and prevent commercial fraud.

- Good maintain relations with customers and traditional partners.

- Proactive in international relations, market development and improved product competitiveness at home and abroad.

- Implement solutions to increase labor productivity (such as mechanization, synchronizing automation of excavation, exploitation and transportation at underground coal mines).

- Implement solutions to increase labor productivity (such as mechanization, synchronizing automation of excavation, exploitation and transportation at underground coal mines).

- Invest in synchronous, high-capacity equipment and conveyor belts for transportation at open-pit mines.

- Maximize automation of screening, electric, Alumina, chemical, and cement factories and optimize management organization models at all levels to reduce labor, increase labor productivity, and reduce prices

Financial Solutions:

- Continue to divest capital in companies not in the main business field, or partially divest capital in companies in the main business field to only hold the controlling percentage of voting shares, or veto depending on the important nature of each company in the Group structure. Use capital obtained from divestment to invest in developing new projects according to the provisions of law.

- Regulate capital between units in the Parent Companies, by the provisions of law for improving the efficiency of capital use to avoid the phenomenon of local excess or shortage of capital to improve cash flow and reduce the cost of capital.

- Besides the traditional method of mobilizing from commercial credit sources, Vinacomin will expand other long-term capital mobilization channels such as issuing stocks and corporate bonds to mobilize capital for the Group and its subsidiaries

Innovation and application of sciences and technologies.

- Deploy local monitoring and control automation systems at production units. Build synchronous and integrated centralized monitoring and control systems at units;

- Apply automation associated with smart production based on digital platforms.

- Build information technology infrastructure throughout the Group according to the data center model on a cloud computing platform with high-speed communications infrastructure and data storage systems using modern, capable technologies. The ability to store and process large data, meeting the integration trend and requirements of the fourth industrial revolution. Build shared software systems throughout the Group.

- Continue to promote scientific research and technology development. In particular, priority is given to focusing on scientific and technological tasks of research and application of search and exploration technology to serve coal mining in the Red River Delta, research and application of mechanization and automation, and computerization. Research for manufacturing and localizing materials and equipment to replace imported goods.

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