Vietnam approves Vicem privatisation schedule

Vietnam approves Vicem privatisation schedule
18 September 2014

Vietnam’s Ministry of Construction has approved the privatisation schedule of Vietnam Cement Industry Corporation (Vicem), the country's largest cement producer, under which Vicem will have to sell shares of its parent firm in October 2015.

Vicem has been required to announce its corporate valuation by the end of April and submit its privatisation plan to the ministry by end-June, the Dau Tu newspaper reported.

Vicem is one of the 432 state-run companies that have to undergo privatisation in the 2014-2015 period along with other flagship firms such as Vietnam National Textile and Garment Group (Vinatex), Vietnam Airlines and Vietnam Shipping Lines Corporation (Vinalines).

Vicem eight month sales
In the first eight months, Vicem’s cement and clinker sales rose three per cent YoY to 14.45Mt, of which 12.15Mt of cement and clinker were sold in the domestic market, down seven per cent YoY, and 2.29Mt were exported, rising by 70.56 per cent.

The corporation also produced 10.73Mt of clinker between January and August, down 1.2 per cent YoY, including 1.28Mt in August, down 4.6 per cent, while cement output rose 5.1 per cent YoY to 11.78Mt, including 1.57Mt in August, up 9.4 per cent.

Published under Cement News