Coal demand for electricity production in 2024 is more than 74.3 million tons, but domestic sources can only meet 65%, the rest must be imported.
According to the coal plan for electricity production in 2024 just approved by the Ministry of Industry and Trade, investors of power plants must arrange more than 74.3 million tons of coal for electricity production next year, of which the amount of coal to be imported is over 26 million tons.
That means domestic coal supply from Vietnam National Coal and Mineral Industries Group (TKV) and Dong Bac Coal Corporation can only supply more than 48.2 million tons of coal for electricity production next year.
To have enough coal for electricity production next year, the Ministry of Industry and Trade has assigned investors to diversify imported coal sources and purchase to make up for the amount of coal that TKV and Dong Bac Coal Corporation cannot supply, except for BOT power plants using domestic coal whose coal supply contracts are guaranteed by the Government. Every month, enterprises report to the management agency on the supply and storage of coal for electricity.
Factories are also fully responsible for arranging legal coal sources with technical specifications suitable for the plant's technology (except for BOT plants). This is to ensure sufficient and stable supply of coal for the plant's operations at competitive prices.
"In any case, there must be no disruption in coal supply or shortage of coal for electricity production," the Ministry of Industry and Trade requested.
In addition to Australia and Indonesia - the main coal import markets of Vietnam, coal imports from Laos are also taken into account. According to the memorandum of understanding on cooperation in the coal sector between Vietnam and Laos signed in July, each year Vietnam will import about 20 million tons of coal from Laos, depending on actual market conditions and the needs of each side.
However, in order to have competitive prices for coal imported from Laos, at the conference on promoting cooperation in buying and selling coal from Laos on December 9, Minister of Industry and Trade Nguyen Hong Dien proposed that the Lao Ministry of Energy and Mines and businesses propose that the Lao Government reduce coal export taxes and related fees. This is to reduce the cost of Lao coal imported to Vietnam.
At the same time, Minister Dien suggested that Laos speed up investment, upgrade or support businesses in infrastructure systems, warehouses, and coal transportation to Vietnam.
The leaders of the Ministry of Industry and Trade also assigned TKV and the Dong Bac Coal Corporation to propose a mechanism for importing (buying and selling prices) coal from Laos to Vietnam, to report to the Prime Minister. This includes solutions to improve coal receiving capacity and sign a contract in principle with Lao partners on import volume.
To have enough coal for electricity production next year, other corporations such as EVN and PVN will review and adjust their coal supply plans every quarter and report in the last month of the quarter. Enterprises need to build a monthly coal supply and reserve chart and send it to the Ministry.
TKV and Dong Bac Corporation restructure corporate finance and innovate technology to maximize the capacity of exploiting, producing and processing domestic coal for power generation.
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