Jan-Feb cement sales up 10% y-o-y

Employees of a cement enterprise in Binh Phuoc Province bring a bag of cement to a storage facility. Domestic cement sales went up by 10% in the January-February period to nearly 7.3 million tons - PHOTO: MINH KHUE

Van Nam Le Van Toi, head of the department under the Ministry of Construction, said 9.5 million tons of cement was sold in the first two months of this year, with the domestic market making up 7.3 million tons and exports accounting for 2.2 million tons, almost the same to the volume recorded in the year-earlier period. Toi said domestic cement consumption is expected to total 60 million tons this year, up 3.5 million tons against 2015. Outbound sales of cement are expected to reach 17 million tons, one million tons higher than last year. Figures of the ministry showed that inventories of cement and clinker totaled about three million tons last month. Of the total, cement and clinker stockpiles of Vietnam Cement Industry Corporation (Vicem) were two million tons. Currently, cement plants in Vietnam can produce a combined 81.5 million tons but sell nearly 77 million tons at home and abroad. Therefore, an oversupply has stoked fierce competition in recent years.. In 2014 when … [Read more...]

Cement companies blocked

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All but four cement makers in Vietnam - Holcim, Chinfon, Ha Tien and Cong Thanh, have failed to deploy waste heat gas generation systems in their plants by the end of last year, as required by Prime Minister Nguyen Tan Dung. Many cement makers failed to meet government deadlines for applying energy-saving systems to their plants-Photo: Le Toan Under the national cement industry development plan for 2020 with a vision to 2030, all cement plants with a capacity of 2,500 tonnes of clinker per day or more were required to apply waste heat gas generation (WHGG) systems by 2015 to help the plants save at least 20 per cent of their electricity consumption. According to Nguyen Hoang Cau, secretary general of the Vietnam Cement Association, there are more than 40 cement-making production lines across the country subject to the requirement. Among these, foreign cement makers such as Taiwanese-backed Phuc Son Cement, Hong Kong's Luks Cement Vietnam Limited, and Japanese-funded Nghi Son Cement … [Read more...]

Prime Minister approves equitisation plan for VNCC

Hanoi, January 18 (VNA) – Prime Minister Nguyen Tan Dung has approved the equitisation plan to transform the State-owned Vietnam National Construction Consultants Corporation (VNCC) into a joint stock company on January 15. After the equitisation, VNCC, under the Ministry of Construction, will have chartered capital reserves of 357.7 billion VND (15.89 million USD), or 35,774,448 shares at a par value of 10,000 VND (43 US cents) per share. Under the plan, the MoC, representing the State capital, will hold 18,244,968 shares, or 51 percent in the corporation, while as much as 1,779,500 shares, or 4.97 percent of the charter capital, will be sold to employees. Further, MoC will decide upon the number and prices of shares to be sold during the initial public offering to strategic investors. In 2015, the corporation earned revenues of 1.128 trillion VND (56.8 million USD), an increase of 8 percent, and profits of 70.85 billion VND (3.14 million USD), up 13 percent over 2014. … [Read more...]

Four firms under construction ministry to go public in 2016

Van Ly and Quang Chung Dau Minh Thanh, head of the ministry’s Business Management Department, said the equitization of Song Da Corporation, Housing and Urban Development (HUD), Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO) is set for completion in the second quarter of 2016. Meanwhile, Vietnam Cement Industry Corporation (VICEM) is expected to go public at the end of next year because of its restructuring of some cement factories. Song Da, HUD, IDICO and VICEM have basically finished corporate evaluations. They are working with the State Audit of Vietnam to assess the value before the figures are approved and announced by the ministry. Up to now, the ministry has almost finished its target of having all SOEs equitized, Thanh added. Between 2011 and 2015, the ministry planned to equitize 14 corporations – Viglacera, Hanoi Construction, Bach Dang Construction, Viwaseen, Licogi, FiCO, CC1, LILAMA, COMA, Song Da, VICEM, HUD, IDICO and … [Read more...]

Domestic cement sales up, exports down

Van Nam The Ministry of Construction projected this year’s cement output would total 72 million tons, up 4% compared to the same period last year. Of the volume, domestic consumption is put at 55.5 million tons and exports at 16.5 million tons. Le Van Toi, head of the Building Materials Department under the ministry, said domestic cement consumption has been good this year, particularly in the last months of the year, and this growth momentum is forecast to continue next year. Toi told the Daily that total cement sales would edge up 3.5-4.5% next year compared to this year. Vietnam has nearly 60 cement factories and oversupply in recent years has stoked tougher completion on the domestic market. Due to the stagnant property market and oversupply last year, local cement producers including Vicem, Nghi Son, Chinfon, Thanh Long Vina, Vissai and Thang Long sped up exports to reduce inventories. Cement output reached around 71 million tons in 2014, with 51 million tons … [Read more...]

Social News 7/12

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Rescue work continues in search for missing sailors Bad weather is hindering rescue efforts to save four missing sailors from a fishing boat which capsized two days ago in the sea between Hai Phong City and Quang Ninh Province. The boat, captained and owned by Hoang Van Tuyen, 34, capsized at about 4am on Saturday morning due to big waves, throwing all nine members on board at the time into the sea. Two of the sailors were saved by a foreign freight ship passing by the area while a Vietnamese ship nearby had rescued another three after receiving the SOS call from Hai Phong Coast Station. Four remain missing so far, including the youngest one Pham Van Tung, 22, together with Pham Van Hai, 47, Nguyen Van Duong, 43 and Bui Van Thuong, 32. All the ship members come from Hau Loc District in Thanh Hoa Province. Thanh Hoa's Disaster Prevention and Rescue Office Deputy Chief of Staff, Colonel Hoang Minh Luyen said that the Viet Nam Maritime Search and Rescue Coordination Centre had … [Read more...]

Outstanding localities, organisations in rural development honoured

Hanoi, December 7 (VNA) – Nearly 100 localities and organisations were honoured for remarkable achievements in the rural modernisation drive at a ceremony in Hanoi on December 6 as part of the ninth National Patriotic Emulation Congress. Prime Minister Nguyen Tan Dung, head of the Central Council for Emulation and Rewards, presented the first class Labour Order to 13 centrally-run cities and provinces, namely Hanoi, Ho Chi Minh City, Thai Nguyen, Nam Dinh, Quang Ninh, Ha Tinh, Binh Dinh, Lam Dong, Dong Nai, Hau Giang, Long An, Lao Cai and Lai Chau. These cities and provinces lead the country in the number of communes recognised as new-styled rural areas and the amount of capital resources mobilized for the drive. For example, Hanoi has 141 out of its 386 communes and Dan Phuong district recognised as new-style rural areas. Dan Phuong district, in particular, spent nearly 25 trillion VND (1.1 billion USD) in the field. Meanwhile, Ho Chi Minh City has three recognised … [Read more...]

State firms sit on debt mountain

Tu Hoang The report on the 2014 performance of 781 State-owned enterprises (SOEs) says many of these businesses are struggling with huge debt. Accumulated losses racked up by 19 groups and corporations amount to more than VND24.5 trillion (over US$1 billion). Vietnam National Shipping Lines (Vinalines) incurred the highest loss, VND20.7 trillion, followed by Vietnam Southern Food Corporation (Vinafood 2) with VND1.1 trillion, Corporation No.15 with VND569 billion, Haprosimex with VND500 billion, Song Da Corporation with VND413 billion, Military Petroleum Corp. (Mipecorp) with VND334 billion, Vietnam Multimedia Corp. (VTC) with VND196 billion, and Housing and Urban Development Corporation (HUD) with VND188 billion. Losses of ten parent companies totaled a staggering VND2.9 trillion. Besides, consolidated reports of 10 groups and corporations unveil losses of VND4.9 trillion for parent firms and their subsidiaries. Of the total figure, Vinalines accounted for VND3.2 trillion, … [Read more...]

Groups, corporations show ineffective performance

Through data on financial condition and performance at state owned groups and corporations in 2014, The Ministry of Finance said that their operation effectiveness was not high. The Government has reported to the National Assembly last year financial condition, production and trading results of businesses that the Government holds 100 percent chartered capital, has shares or makes capital contribution. According to data at the end of 2014 fiscal year, the Government owns 100 percent chartered capital of 781 businesses including eight economic groups, 85 corporations excluding Vietnam Ship-building Corporation which is under restructuring as per a resolution by the Politburo and the Government. By the end of last year, their total assets topped VND3,100 trillion (US$137.83 billion) comprising VND2,800 trillion from groups, corporations, parent companies and subsidiaries. Total equity exceeded VND1,200 trillion (US$53.35 billion), up 7 percent over 2013. Pre-tax profit was down 1 … [Read more...]

Cement firms register solid profits

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Cement firms are upbeat as rising domestic consumption has lifted their profits in the year to date. According to Tran Viet Thang, general director of state cement conglomerate Vietnam Cement Industry Corporation (Vicem), despite unfavourable exports, Vicem still registered a pre-tax profit of VND1.34 trillion ($62.6 million) in this year’s first half, which is up significantly from the figure of VND1 trillion ($46.7 million) posted one year ago. This year, the company expects that their full-year profits will surpass VND2 trillion ($93 million). The most impressive business performance among Vicem members was from Vicem Ha Tien 1 JSC, which saw their post-tax profit in the first six months of this year spike to VND397 billion ($18.4 million), an incredible surge in growth that dwarfs the meager VND13 billion ($604,650) in the first two quarters of 2014. Accordingly, the company’s net revenue jumped 19.4 per cent year-on-year to VND2.06 trillion ($96 million), and gross … [Read more...]

More State-owned corporations to go equitisation

Photo: laodong.com.vn

More centrally-run State-owned corporations will go equitisation this year, according to the party committee of the group of centrally-run State-owned corporations. At a meeting on April 25, the committee said in 2015 it will push the equitisation of 52 member enterprises of centrally-run State-owned corporations and six holding companies – the Vietnam National Shipping Lines, the Shipbuilding Industry Corporation, the Song Da Corporation, the Housing and Urban Development Corporation, the Vietnam Cement Industry Corporation, and the Southern Food Corporation. The corporations will also have to withdraw all their investment from 549 enterprises, part of their capital at 42 enterprises and merge their 45 enterprises within this year. The centrally-run State-owned corporations group has 33 members, which together hold over one million billion VND (approximately 46 billion USD) of State capital. Among them, 28 are to undergo equitisation. As of December 31, 2014, five … [Read more...]

Construction ministry backs more cement exports

An employee is at work at the factory of Quang Son Cement Co. Ltd. in the northern province of Thai Nguyen. Deputy Minister of Construction Nguyen Tran Nam said that cement exports should be promoted as local material supply is abundant - PHOTO: TTXVN

Thuy Dung Nam said Vietnam still had to import cement in 2009, and exported 1.2 million tons and imported one million tons of cement in 2010. However, four years later, the country produced 71 million tons and exported 21 million tons worth nearly US$1 billion. Nam said he threw support behind more cement exports to back local producers, especially at a time when domestic consumption is declining. The country has more than 12 billion tons of limestone, which is enough for cement production for hundreds of years. According to Deputy Minister of Industry and Trade Tran Tuan Anh, the quality of Vietnamese-made cement has improved and is recognized by importing markets. Cement export is no longer a short-term solution as it has helped reduce inventories and balance supply and demand on the domestic market. However, the biggest problem of the cement industry, according to Nam, is that enterprises are competing with one another by undercutting prices instead of improving product … [Read more...]

‘Cement should be top export’

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Vietnam should have a long-term strategy to make cement a large-scale and high-value export product to give a boost to the country's export revenue, said Deputy Minister of Construction Nguyen Tran Nam. Nam told the "Exporting cement towards sustainable development" conference held in Hanoi yesterday that he supports growing cement exports since the country's natural resources are large enough for production. The ministry estimated that limestone reserves could last for the next 100 years and are in good enough condition to support an expansion of the export market. The industry's output potential is projected to be as high as 100 million tonnes a year by 2020. "In my opinion, I support cement exports. However, the industry must have solutions for sustainable development issues that will arise due to big outputs," he added. Vietnam has become the fifth biggest cement producer and consumer in the world after China, India, Iran and the US. The "hot" growth of the industry, … [Read more...]

Cement sector looks for sustainable export

Vietnam exported more than 21 million tonnes of cement in 2014, but this year is forecast to be full of difficulties as demand stalls at traditional markets while many regional cement producing countries plan to raise output remarkably. The Import-Export Department under the Ministry of Industry and Trade reported at a workshop on cement export on April 23 that the country has 106 cement plants with total design capacity of 82 million tonnes a year, while domestic demand stands at around only 50 million tonnes. Representatives from the Vietnam Cement Industry Corporation (VICEM) said the sector hopes to boost export to reduce the amount of cement stockpile. However, the corporation is worried about strong increases in cement production in regional markets such as Japan, the Republic of Korea, China and India, while demands for Vietnam’s clinker show no sign of rising in traditional buyers like Bangladesh, Indonesia and the Philippines. Deputy Director of The Vissai Ninh … [Read more...]

Steel, cement firms asked to cut power consumption

Van Nam The corporation has urged power companies in 21 southern localities to work with manufacturers to prepare power use reduction plans to cope with possible electricity shortages in the dry season. Big power consumers have to report their electricity use plans to power companies. When signing new contracts, power companies and customers will have to negotiate on cutting power consumption by 10% or 15% in case demand outpaces supply. In the dry season two years ago, the corporation notified 6,000 industrial manufacturing companies in 21 provinces and cities in the southern region to save power so that power consumption could be cut by 10-15%. Around 200 out of the 6,000 companies are steel and cement makers. If producers can reduce electricity consumption by 10% in peak hours, about 610MW could be saved, 1.5 times of the capacity of Tri An hydropower plant. Cement factories can save up 30-40% of power consumption while steel makers can reduce by up to 25-30%, according to … [Read more...]

Company supports new rural area projects in Cao Bang

Photo: thanhnienduongsat.vn

PANO - Hoang Thach Cement Company of the Vietnam Cement Industry Corporation (Vicem) on March 19th handed over 2,000 tonnes of cement to Cao Bang province to upgrade local rural roads. The quantity of cement will be used to build rural roads in the districts of Nguyen Binh, Trung Khanh, Phuc Hoa and Cao Bang city. Only three out of 163 communes in the province meet rural road standards set by the Government for new rural areas. From 2009 to 2014, under the Government's Resolution 30a, the corporation spent over VND 116 billion to support six needy districts of provinces of Nghe An, Thanh Hoa and Quang Nam. Translated by Anh Tien … [Read more...]

Vice President Nguyen Thi Doan awards Hoang Thach Vicem Cement Co. 1st-class Independence Order

Authorized by the President, Vice President Nguyen Thi Doan awards a 1st-class Independence Order to Hoang Thach Vicem Cement Company

Hoang Thach Vicem Cement Company on March 4 morning solemnly held its 35th founding anniversary and received a 1st-class Independence Order. In 35 years of construction and development, Hoang Thach Vicem Cement Company has produced and provided over 64 million tons of cement and dozens of million tons of clinker for the country and paid nearly VND4,700 billion to the State budget. The company has always been the leading unit and one of famous brand names of Vietnam's cement industry. Authorized by the President, Vice President Nguyen Thi Doan awarded the 1st-class Independence Order to Hoang Thach Vicem Cement Company. Mr. Bui Van Cuong, Alternate Member of the Central Party Committee, Secretary of the Central Business Bloc's Party Committee, presented the company with a hanging bearing the words "35 years of unity, innovation, construction, and development." Speaking at the ceremony, Secretary of the Hai Duong Provincial Party Committee Bui Thanh Quyen, Deputy Minister of … [Read more...]

Cement consumption rises 30 percent

Cement consumption in the country posted a 30 percent year-on-year rise in January 2015, reaching 5.87 million tonnes. The latest figures from the Department of Building Materials under the Ministry of Construction showed that local cement consumption in the first month of the year was higher than those in the previous month and in the same period last year. Specifically, the consumption was 4.37 million tonnes, which is 6 percent and 47 percent higher than last December and January, respectively. Of the total, the Vietnam Cement Industry Corporation (VICEM) sold 1.41 million tonnes of cement in local markets, 46 percent higher than its sales in the corresponding period last year. In addition, the amount of cement exported was estimated at 1.5 million tonnes. The department said that the selling price of cement last month was more stable than its price last year, thanks to the balance in supply and demand of cement production and consumption. By the end of last month, the … [Read more...]

Breakfast @ Tuoi Tre News – January 21

Politics    -- Vietnamese Prime Minister Nguyen Tan Dung on Tuesday met with Cardinal Fernando Filoni, Prefect of the Congregation for the Evangelization of Peoples, during his pastoral visit to Vietnam.    Society

Enjoy your breakfast while skimming through these news items in brief on Tuoi Tre News today, January 21, 2015. -- Police in Ho Chi Minh City’s District 1 said on Tuesday that they had arrested a 26-year-old woman, who works as a tutor for an international school based in the district, for attempting to blackmail the director of the school. -- The local government and related agencies in Phu Quy Island District in the south-central province of Binh Thuan on Tuesday morning received 12 crew members. Their boat’s engine failed on Friday last week when it was around 110 nautical miles from Phu Quy and was adrift until they were found and rescued on Monday. -- The Vietnam Expressway Corporation said at a Tuesday meeting that the Ho Chi Minh City-Long Thanh-Dau Giay Expressway, which is 55 kilometers long, will be open to traffic on February 8. -- An official in Thach Ha District in the central province of Ha Tinh has confirmed two three-year-old children drowned on … [Read more...]

Vietnam expects USD1 billion from cement export

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Vietnam could rake in USD1 billion from exporting 20-21 million tonnes of cement and clinker in 2014, up 15 percent in value compared to last year, according to the Vietnam Cement Association. Preliminary statistics from the Customs General Department showed that the shipment of cement and clinker increased in both volume and value in January-October, reaching nearly 18 million tonnes. Major cement companies have reported positive results over the past time, with stable export volumes and many new markets. Tran Viet Thang, Director General of the Vietnam Cement Industry Corporation (Vicem), which holds 34 percent of the sector's output, said his company exported about 1.8 million tonnes of the products in the first three quarters of 2014 and plans to sell 1 million tonne in the last three months to raise its total exports to 3 million tonnes, meeting the yearly target set early this year. Last month, the Thang Long Cement JSC shipped 4,000 tonnes of cement to the Philippines . The … [Read more...]