Vietnam Needs US$2.5 Bln to Invest in New Coal Mines by 2015
Vietnam’s top mining company Vinacomin said it needs US$2.5 billion to invest in new coal mines by 2015, the Dau Tu (Investment) newspaper reported.
The Vietnam National Coal and Mineral Industries Group has proposed the government to add pit coal mining projects to the list of preferential investment projects, the paper said.
Experts also suggested Vietnam should call for foreign investment in pit coal mining projects at depth of more than 300 meters in order to meet domestic demand for coal, especially for electricity production after 2015.
Vinacomin said earlier that Vietnam needs 6.48 million tons of coal for electricity production in 2008, 15.3 million tons in 2010, 32.5 million tons in 2012, 43.9 million tons in 2015 and 45.46 million tons in 2020.
To ensure 32.5 million tons of coal for power plants in 2012, Vietnam will have to import 8 million tons of coal, and rising to 11.4 million tons by 2015. (Investment)
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