PV Power Corporation Imports Coal for Electricity

PetroVietnam (PV) Power Corporation will be importing coal for electricity production.

The purchase will face difficulties because China and Japan are major competition, said General Director of PV Power Corporation Vu Huy Quang. Coal imports will affect electricity prices.

The corporation is estimated to achieve turnover of VND 24,208 billion (US$1.1 billion) in 2013.  This is 116 percent of planned target of 4 percent increase every year.

In 2012, the corporation reported a gross profit of VND 659 billion (US$31 million) and a net income of VND 577 billion (US$27 million).  It has submitted VND 976 billion (US$46 million) in taxes.  This is 117 percent of the initial planned target.

By Ngoc Quang - Translated by Uyen Phuong

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