This information was given at the press conference to announce Vietnam's coal industry development plan till 2020 and vision till 2030 that was organised by the Ministry of Industry and Trade (MoIT) on late February 23 in Hanoi.

Report from Vietnam National Coal and Minerals Industries Group (Vinacomin) said that of 44.56 million tonnes of coal consumption in 2011, exports were nearly 17 million tonnes and it is estimated to fall to 13.5 million tonnes in 2012.

However, based on production capacity and demand for coal in 2015, Vietnam will lack coal and the amount of deficiency will also increase each year.

The ministry estimates till 2015, the coal import to serve local consumption would be about 15 million tonnes and it would be 45 million tonnes by 2025.

Mentioning the roadmap of coal price adjustment, as explained by representatives of the general Department of Energy, the coal price for electricity production is equal to only 57-63 percent of the current cost and the difference between the coal price for electricity in 2010 was 2,000 dong and it was 3,000 dong in 2011. Each year Vinacomin needs amount of capital of up to 42 trillion dong for its investments, if the coal price is not increased, it is difficult to develop the coal industry.

Thoi Bao Vietnam - February 24, 2012