ID :
24564
Wed, 10/15/2008 - 16:12
Auther :
Shortlink :
http://m.oananews.org//node/24564
The shortlink copeid
Coal producer gets 72 million USD from Vietcombank
Hanoi (VNA) - The Vietnam Coal and Mineral Industries Group (Vinacomin) has signed an agreement for a loan of 72 million USD from the Bank for Foreign Trade of Vietnam (Vietcombank).
With the loan, Vinacomin, the country's top coal producer, said it would
invest in the development of a bauxite exploitation project in the
central highland province of Lam Dong .
The project is among the group's plans to diversify their exploitation of
minerals and improve production of hydro power.
The coal group earned a turnover of 37.4 trillion VND (2.26 billion USD)
in the first nine months of the year, up 42 percent over the same period
last year.
Vinacomin chairman Doan Van Kien said the group expected to lift its coal
output in the near future through the application of modern technologies
into coal exploitation, including under-group coal gasification (UCC)
technology.
The group last Saturday signed a 6.5 million USD project with Australia 's
Linc Energy Ltd and the Marubeni Corporation of Japan for a trial use of
UCG technology in the Red River coal basin.
The deal, which goes into effect immediately after signing, is
designed for the conduction of geological studies and UCG at the Tien
Dungmine in Khoai Chau district, Hung Yen province, 30km northeast of
Hanoi.-Enditem
With the loan, Vinacomin, the country's top coal producer, said it would
invest in the development of a bauxite exploitation project in the
central highland province of Lam Dong .
The project is among the group's plans to diversify their exploitation of
minerals and improve production of hydro power.
The coal group earned a turnover of 37.4 trillion VND (2.26 billion USD)
in the first nine months of the year, up 42 percent over the same period
last year.
Vinacomin chairman Doan Van Kien said the group expected to lift its coal
output in the near future through the application of modern technologies
into coal exploitation, including under-group coal gasification (UCC)
technology.
The group last Saturday signed a 6.5 million USD project with Australia 's
Linc Energy Ltd and the Marubeni Corporation of Japan for a trial use of
UCG technology in the Red River coal basin.
The deal, which goes into effect immediately after signing, is
designed for the conduction of geological studies and UCG at the Tien
Dungmine in Khoai Chau district, Hung Yen province, 30km northeast of
Hanoi.-Enditem
