Vinacomin to Invest US$4.31B in 11 Coal Projects in Red River Basin
The state-owned Vietnam National Coal-Mineral Industries Group (Vinacomin), the biggest coal producer in Vietnam, has planned to invest over VND73 trillion (US$4.31 billion) in 11 coal exploration projects in the Red River coal basin.
The projects will focus on exploring and surveying geologic conditions, building infrastructure, studying production technologies and producing coal, the agency said citing the Ministry of Industry and Trade.
However, information about the time for the implementation of the projects has not yet been made available.
The ministry said the Red River coal basin has a coal reserve of 210 billion metric tons with 65 billion tons being exploitable.
The basin covers 3,500 square kilometers in northern Hung Yen, Thai Binh, Nam Dinh and Hai Duong provinces and northern Haiphong port city.
The ministry is speeding up an appraisal report on the Red Rive coal basin so as to submit to the prime minister for consideration in July this year.
The basin’s reserve is 20 times bigger than that of the Quang Ninh coal basin. (News, chinhphu.vn)
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