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News Minister wants Vicem to take over Quang Son cement plant

Minister wants Vicem to take over Quang Son cement plant

Written by Global Cement staff 04 June 2018
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Vietnam: The Ministry of Industry and Trade has proposed that the government transfers the management of Quang Son cement plant to the Vietnam Cement Industry Corporation (Vicem) from the Vietnam Industrial Construction Corporation (Vinaincon) due to high losses and mounting loans. Both companies are run by the government, according to the Viet Nam News newspaper. The loans have grown to 95% of the total investment of US$153m of the project, putting financial pressure on Vinaincon.

Under the proposal, Vicem will have to take care of all the loans taken by Vinaincon for Quang Son cement plant, formerly known as Thai Nguyen cement plant. The project started commercial operation in July 2011 with a production capacity of 1.5Mt/yr of cement.

Last modified on 06 June 2018
Published in Global Cement News
Tagged under
  • Vietnam
  • Government
  • VICEM
  • Vietnam Cement Industry Corporation
  • Plant
  • Vietnam Industrial Construction Corporation
  • GCW356
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