Cement News tagged under: Vicem

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Vicem falls short of corporate valuation

06 September 2019, Published under Cement News

The pre-equitisation valuation of the Vietnam Cement Industry Corporation (Vicem) carried out by an independent auditor fell short by nearly VND1.17trn (US$50.3m), according to the State Audit of Vietnam. The state audit agency informed the Ministry of Construction that the valuation of Vicem in October 2018 was VND28.22trn, including the state capital of VND27.8trn. However, the corporate evaluation carried out by the independent auditor valued Vicem at VND27.05trn and the state capital at...

VICEM reports 5% rise in 1H sales

20 June 2019, Published under Cement News

State-owned Vietnam Cement Industry Corp (VICEM), the country’s leading cement producer, is estimated to have sold 14.98Mt of cement and clinker in the first half of 2019, representing a five per cent YoY increase. The total includes 13.1Mt of cement, up 11.4 per cent YoY, and 1.87Mt of clinker, a 25 per cent YoY drop. In the 1H19 VICEM’s pretax profit is estimated to have surged 62.3 per cent YoY to VND1.66trn (US$71.2m) on a revenue of VND17.64trn, up 4.3 per cent YoY, according to Vie...

Vicem Hoang Mai to build 3Mta plant in Nghe An

19 June 2019, Published under Cement News

Vicem Hoang Mai Cement JSC plans to build a 3Mta cement plant in Vietnam’s central province of Nghe An. Covering 60ha in the Hoang Mai 2 Industrial Zone, the project represents an investment of VND6.67trn (US$286m) and is expected to create 500 local jobs. During a meeting in May, the chairman of the provincial People's Committee, Thai Thanh Quy, granted approval in principle for the investor to develop the plant, which is part of the development strategy for the cement industry to 2030,...

Vicem reacts to electricity price increase by upping cement prices

03 April 2019, Published under Cement News

Cement prices are on the up in Vietnam following the 8.4 per cent hike in electricity prices from 20 March. Vietnam Cement Industry Corporation (Vicem) has reacted by raising its cement price by VND30,000/t (US$11.29/t). Don Tien Trinh, Vicem But Son's general director, said the price of coal has also risen by between 2.3 and 5.8 per cent depending on the type of coal. Cong Thanh Cement JSC in the central region has not raised retail prices but has charged distributors an additional VND30,...

Higher electricity costs to impact Vietnamese cement prices

26 March 2019, Published under Cement News

Vietnam Cement Industry Corp (VICEM) has announced that its electricity costs will increase by VND20bn (US$855,730) per month, and therefore product prices are also expected to rise. Local producers have stated that they will raise prices by VND30,000-50,000/t. On 20 March power prices went up by 8.4 per cent to VND1864, exclusive of VAT, after remaining unchanged for two years. A household which uses 520kWh a month will now pay an extra VND83,000, according to Vietnam News. Vietnam Elect...

VICEM targets further growth in 2019

08 January 2019, Published under Cement News

Vietnam Cement industry Corp (VICEM) has reported a 10 per cent YoY increase in revenue to VND37trn (US$1.59bn) for 2018. The company also saw an 11 per cent rise in pretax profit to VND2.8trn. VICEM expects to push this even further by reaching a revenue of VND40trn in 2019. According to Bùi Hồng Minh, general director of VICEM, pretax profit is expected to hit VND3.2trn in the year ahead. To achieve these goals, the company will produce and consume 31Mt of coal. It will also invest in ...

Vietnamese prices could rise in September

13 September 2018, Published under Cement News

Vietnamese cement producers may increase prices this month as a result of the increased demand seen in the construction season, according to the Department of Price Management under the Vietnamese Ministry of Finance. However, the prices of popular cement products, such as PCB30 and PCB40, remained stable in August. Vicem affiliates are currently supplying the two types of cement at a price range between VND1-1.47m/t (US$42.9-63/t), depending on the product and specific producer.

Vicem sees Jan-Aug sales up 12% YoY

12 September 2018, Published under Cement News

State-owned Vietnam Cement Industry Corp (Vicem) reported cement and clinker sales of 18.88Mt in the first eight months of this year. This represents an increase of 11.5 per cent when compared with 8M17. Clinker production from the company’s cement plants also increased by six per cent to 13.43Mt while in terms of cement, output rose 6.3 per cent to 15.24Mt. In August alone, clinker and cement sales were up 28.3 per cent YoY to 2.57Mt, of which 2.06Mt was exported. Clinker output increas...

Vietnam's Ministry of Construction opposes transfer of Quang Son to Vicem

24 July 2018, Published under Cement News

Vietnam’s Ministry of Construction has opposed the Ministry of Industry and Trade’s proposal to transfer the 1.5Mta Quang Son facility from Vinaincon to Vicem, both state-owned corporations, partially due to the plant’s losses and mounting loans, according to Viet Nam News. "Quang Son cement plant is located in an unfavorable position for transportation that leads to high production costs," said Luong Quang Khai, chairman of the board of members, Vicem. "In addition, the plant is suffe...

Vicem reports 10% sales increase in 1H18

18 July 2018, Published under Cement News

Vietnam’s Vicem has reported a 10.1 per cent YoY increase in cement and clinker sales for 1H18, with the total 14.7Mt including 11.74Mt of exports. Additionally, the company’s cement and clinker output rose 8.5 per cent and 6.4 per cent to 10.15Mt and 11.56Mt, respectively. It aims to produce a further 5.08Mt of clinker and 6.28Mt of cement in the 3Q18, up 24.7 per cent and 1.4 per cent, respectively, according to the company’s statement. Vicem has targeted over VND37trn (US$1.61bn) of...