Displaying items by tag: Vietnam Cement Industry Corporation

Vietnam: The government has directed state-owned businesses, including Vietnam Cement Industry Corporation (Vicem), to take measures to mitigate potential losses of state assets in construction. The Vietnam Investment Review newspaper has reported that a recent audit concluded that companies' equitisation processes created scope for such losses within the sector.

Vietnam: State-owned Vietnam Cement Industry Corporation (Vicem) has projected that national full-year cement production will rise by 1.7% to 118Mt. Meanwhile, the cement market leader believes that demand will rise by 5.4% to 68.3Mt in 2023. This corresponds to an oversupply of 73%, compared to 78% in 2022.

Việt Nam News has reported that the government recorded a 7% year-on-year decline in Vietnamese cement production to 43Mt and a 10% drop in demand to 39Mt in the first half of 2023.

Vietnam: Vietnam National Cement Association (VNCA) members sold 77.5Mt of cement in the first nine months of 2021, up by 3.5% year-on-year. Vietnamese cement exports rose by 19% over the same period, to 31.9Mt. This corresponds to 41% of total sales. State-owned Vietnam Cement Industry Corporation (VICEM) exported 14.5Mt of cement, 45% of national cement exports. Viet Nam News has reported that the country ended the nine-month period with 3.6Mt of cement and clinker in inventory.

Vietnam: Vietnam Cement Industry Corporation’s (VICEM) cement production grew by 11% year-on-year to 12.8Mt in the first half of 2019. Its clinker production rose by 2% to 10.2Mt. It cement and clinker sales volumes increased by 3% to 14.7Mt, according to the Viet Nam News newspaper. The state-owned cement producer intends to produce and sell 27Mt of cement in 2019, up from 25Mt in 2018.

Vietnam: Cement producers including Vissai Cement and the Vietnam Cement Industry Corporation (VICEM) have reported difficulties in buying coal domestically. Hoang Manh Truong, the chairman of Vissai Cement, said that the company mostly used imported coal in 2018 and this experience has been mirrored by VICEM, according to the Viet Nam News newspaper. The situation has been blamed on a sharp rise in local demand due to new cement plants and no new coal mines.

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.

Vietnam: 7.62Mt of cement was sold in Vietnam in February 2018, a year-on-year rise of 38%, according to the Vietnam Building Material Association. Of the sum, 5.02Mt were sold domestically, an 11% rise from a year earlier. This included 1.96Mt sold by Vietnam Cement Industry Corporation (VICEM). 2.60Mt of cement were exported, a 30% rise year-on-year.

In January and February 2018, Vietnam sold 18.6Mt of cement, 85% more than in the first two months of 2017. It exported 5.5Mt in the same period, a 121% rise year-on-year. In just two months, the country has produced 22.9% of its whole year target as local demand continues to be outpaced by supply. The country faces a glut of 25 - 36Mt/yr of cement by 2020 if current production and consumption trends continue unabated.

Vietnam: The Vietnam Cement Industry Corporation (Vicem) has appointed Bui Hong Minh as its general director. He was previously the deputy general director of the company, according to the Viet Nam News newspaper. He replaces Tran Viet Thang who has been relieved from the role following allegations of business malpractice.

Minh, aged 46 years, has held the position of deputy general director at Vicem since 2013. Prior to that, he worked at the But Son and Ha Tien cement companies.

Vietnam: LafargeHolcim is considering leaving Vietnam due to oversupply of cement in the local market, according to Nguyen Cong Bao, general director of Holcim Vietnam. The company met with the Ministry of Construction to notify it of its forthcoming business plans in Vietnam. Bao’s statement was reported by the Dau Tu newspaper.

The cement producer has five cement plants with a production capacity of 6Mt/yr, making it the largest manufacturer in the country. It also operates eight ready-mixed concrete plants. The Vietnam Cement Industry Corporation (Vicem), the country’s leading cement producer, holds a 35% stake in Holcim Vietnam. LafargeHolcim retains the brands of Lafarge and Holcim’s products including Lavilla (Lafarge) and Holcim Power-S. Holcim Vietnam holds 26% of the domestic market and Lafarge Vietnam holds 12% of the market.

Vietnam: Vietnam Cement Industry Corporation (Vicem) has said that its cement and clinker sales fell by 0.5% to 10.7Mt in the first half of 2015, according to Vietnam News Brief Service.

Some 9.58Mt was sold to the domestic market, up 7.1% year-on-year, while 1.15Mt was exported, down by 37.7%. In the first half of this year, Vicem produced 8.36Mt of clinker and 9.2Mt of cement, rising by 5% and 6.1% year-on-year, respectively. As of 30 June 2015, Vicem had 1.75Mt of cement and clinker inventory, including 1.41Mt of clinker, equivalent to 28 days of production.

Vicem aims to produce 4.26Mt of clinker and 5.21Mt of cement in the third quarter of 2015. It also aims to sell 5.97Mt of cement in the third quarter, raising the full-year target to 13.1Mt. In 2014, Vicem's clinker production grew by 0.7% year-on-year to 16.5Mt while its cement output rose by 10.3% to 18.5Mt.