For Vietnam National Coal - Mineral Industries Group (TKV), the main production and business activities are coal - mineral exploitation and processing. In addition, TKV advocates a multi-industry business development strategy based on the coal industry.
Electricity production is identified by TKV as one of the main business areas, ensuring the Group's key role in national energy security. To solve the problem of low-quality coal, extend the main product chain, in line with the Government's policy of deep processing of products, TKV has invested in power plants using CFB technology. This technology allows to take advantage of the amount of bad coal, low calorific value produced by TKV units.
TKV Power Corporation currently has 5 thermal power plants, of which 2 are in Quang Ninh province, including Cam Pha Thermal Power Plant and Dong Trieu Thermal Power Plant. Maintaining stable operation of TKV's thermal power plants not only supplies electricity for socio-economic development, ensuring national energy security, but also contributes significantly to the Group's overall growth target.
Mr. Duong Hong Hai, Deputy Director of Cam Pha Thermal Power Joint Stock Company - TKV said: Cam Pha Thermal Power Plant is currently the largest power production complex of Vietnam National Coal - Mineral Industries Group, using CFB furnace technology with the main raw material being low-quality coal. The Company's electricity output from 2019 to the end of 9 months of 2024 accounts for more than 30% of the electricity output of the Electricity Corporation - TKV.
Thanks to the promotion of investment in developing power projects, by 2017, the total capacity of TKV's power plants in operation was 1.73 thousand MW. Electricity production and consumption increased approximately 14 times, from 720 million kWh in 2006 to over 10 billion kWh in 2023, revenue increased 32 times from 432 billion VND to 14,000 billion VND.
To support and serve the proactive production of coal and minerals, meeting the increasing output according to the needs of the economy, Vietnam National Coal - Mineral Industries Group has invested early in and modernized supporting industries such as the production of industrial explosives and mechanics.
In particular, mechanical engineering is an industry that was born early and is closely associated with the history of the development of Quang Ninh mining area. With 11 units, this is also the supporting industry group that has made the most important contributions to the coal - mineral industry of TKV. With the current technical infrastructure potential, the mechanical units of the Group are considered as reliable "logistics houses", with a solid position in the Vietnamese mechanical industry, meeting well the requirements of coal - mineral production.
Units in TKV have manufactured hydraulic supports and equipment, spare parts for coal, mineral, and electricity production, repaired and restored equipment for mining and other production and business fields with total revenue increasing from over VND 1,000 billion in 2006 to VND 3.3 trillion in 2023. In particular, during times of crisis in material supply, the Group's domestic mechanical products have contributed to stabilizing production for coal block units.
Along with coal production, the industrial explosives production and supply sector has also continuously increased and become one of the industries with relatively large revenue and high efficiency. From 2006 to 2023, production output increased nearly 1.5 times, from 46 to 65.6 thousand tons and supply output increased 1.3 times from 76 to 102,000 tons, corresponding to a revenue increase of more than 6 times from 1.2 to more than 7.4 thousand billion VND.
"From the time when the Group and its member units had to import and depend on outside sources for both time and quality, up to now, TKV's mining chemical units have been completely proactive in production. The types of industrial explosives products have been diversified, ensuring safety and suitability for the production conditions of units in the whole Group, while reaching out to markets outside the industry such as the cement industry and construction materials production" - Mr. Vu Van Hai, Party Secretary, Director of Viet Bac Mining Chemical Company - MICCO affirmed.
Investing in developing non-coal fields, especially supporting industrial products, is considered a correct policy of TKV when the supporting industry in Vietnam has not developed commensurate with its potential and TKV always needs to be proactive in supply sources to ensure sustainable strategies.
The production and business efficiency from non-coal sectors has also contributed to increasing TKV's revenue. In the period 2014-2023, the total revenue of TKV Group was 1.3 million billion VND, an increase of 677,000 billion VND and an increase of 109% compared to the period 2004-2013. The total asset value of the entire Group in 2023 increased by more than 112,000 billion VND, equivalent to an increase of more than 67 times compared to 1994. This demonstrates the remarkable growth of TKV's scale in both breadth and depth in production and business.
In addition to the main task of supporting coal and mineral production, supporting industries also help create more jobs and play a very important role in increasing the competitiveness of main industrial products and accelerating the industrialization process in the direction of both expansion and specialization. In the restructuring roadmap, TKV continues to focus on investing in supporting industries, creating momentum to promote the main industry to develop further in the coming period.
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