The Vietnam National Coal and Mineral Industries Group (Vinacomin) on Jan. 10 launched an electricity company which is expected to produce 20 percent of the national electric power by 2025.
The Vietnam National Coal and MineralIndustries Group (Vinacomin) on Jan. 10 launched an electricity companywhich is expected to produce 20 percent of the national electric powerby 2025.
With a chartered capital of 6.8 trillion VND (367.2 million USD), thenew electricity company is permitted to invest, construct and operatehydro and thermo-power plants as well as power generators using new andrenewable energy resources and regulate electricity grids.
Addressing the ceremony, Deputy Minister of Industry and Trade andPresident of Vinacomin’s executive board, Le Duong Quang, said thecompany was founded in response to the policy of promoting multi-sectorbusiness based on the group’s traditional production of coal.
The move is aimed at increasing the value of coal products exploited byVinacomin and expected to contribute to ensuring the national energysecurity, he added.
At present, Vinacomin manages and operates 23 electricity projects witha total designed capacity of 13,169MW, of which two generators – the NaDuong and Cao Ngan thermo-power plants - are for commercial electricityproduction./.
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