Vietnam Coal Imports Inevitable Amid Soaring Domestic Demand
Fast increasing demand from power and cement industries and limited domestic supplies will result in 28 Mt of coal imports by 2015, RNCOS acknowledged.
- (1888PressRelease) October 20, 2010 - According to our recent research report, "Vietnam Mining Sector Analysis", the economic downturn has had moderate effects on the coal industry. The manufacturing industry operated at reduced levels and drastically dented coal demand. In 2010, the economy has rebounded and the manufacturing industry regained its exponential growth momentum. Hence, the coal consumption has once again rejuvenated and registered around 27% year-on-year growth. The rapidly growing demand and saturated domestic production will make coal imports inevitable, which are forecasted to be of 28 Mt by 2015.
The study identified that, at the production level, developments have given appropriate response to demand till now. Domestic productions have comfortably been surpassing local demand and the country was exporting huge amount of coal. However, limited coal reserves will create a wide gap in demand-supply mechanism in future. In fact, regulators have already proposed coal imports starting from the year 2012. The condition will become more severe if authorities continued to overlook new reserves discovery and exploitations.
Further, country's economy is expected to grow at the rate of more than 7% annually, raising the demand for energy in coming years. Moreover, as per the government projections, the electricity generation will grow at around 16% CAGR during 2010-2015. Being a major source of power generation, coal requirement in power industry is expected to grow substantially in coming years.
Not only the power sector, but cement, construction, and living fuel are also the prominent coal consumers in the country. According to a senior Research Analyst at RNCOS, "To meet the growing demand, proposed developments will require investments worth billions of dollar of, which government cannot afford to bear single handedly and thus, co-operation of private players will be a must for the industry in the coming years".
Our report, "Vietnam Mining Sector Analysis" is an outcome of extensive research and conceptual analysis of the Vietnamese coal industry potential. It facilitates information/statistics on coal reserves, production, consumption, import prospects and exports development historical, current, and future projected trends. Besides, the report provides coal demand forecasts for prominent sectors, including power, cement, construction material, and living fuel.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM274.htm
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