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Formosa seeks to import own coal

access_time Oct 11,2016 chat_bubble_outline 118 views

Decrying the low-quality of domestic coal, Hung Nghiep Formosa Co., Ltd (Formosa) wants to import coal for electricity production in its coal-fired thermal power plant located in the southern province of Dong Nai’s Nhon Trach 3 industrial park.

Formosa seeks to import own coal

According to newswire Tienphong, Formosa submitted a proposal to the General Department of Vietnam Customs to import coal for electricity production in its thermal power plant without any domestic intermediaries. According to the company, domestic coal is not only low-quality but also not suitable with the technology line of the plant.

Previously, the company submitted the proposal to the Ministry of Planning and Investment (MPI), the Ministry of Industry and Trade (MoIT) as well as other relevant authorities. The MPI promised to forward the proposal to the prime minister, while the MoIT supported because of limited domestic coal resources.

On September 2, Dong Nai province’s Nhon Trach Customs Branch guided the company to complete procedures to import coal. However, the company has to go through two major Vietnamese importers, Vietnam National Coal-Mineral Industries Holding Corporation Limited and Dong Bac Coal Corporation, and will only be able to import directly upon receiving the PM’s approval.

However, Formosa said that regulations prescribe co-operation with intermediaries for enterprises lacking experience as well as the coal resources. Formosa, on the other hand, has vast experience in the import sector. Furthermore, the company has its own coal sources with high-quality and suitable prices.

Nguyen Phuc Tho, deputy director of the Dong Nai Customs told VIR that there are no regulations banning private enterprises from importing coal for electricity production.  The General Department of Vietnam Customs is waiting the MoIT to provide guidance on implementing the PM’s directions about Formosa’s proposal. 

According to expert opinion, the rule for enterprises in general and Formosa in particular to import coal by co-operating with domestic coal importers is to control the quality, avoiding the increased environmental pollution that comes with lower-quality coal resources.

In 2001, Formosa rented 200 hectares in Nhon Trach 3 IP to establish an industrial park subdivision. The company built a spinning and textile factory, a coal-fired thermal power plant, and other infrastructural units to attract investment projects.


Turkey detains BBC, Voice of America reporters in southeast

ISTANBUL (AP) — Turkish authorities have detained two reports working for foreign news organizations in southeast Turkey, the latest journalists taken into custody in the government's sweeping crackdown following July's failed coup.BBC Turkish reports that correspondent Hatice Kamer was detained Saturday in the town of Sirvan to cover a recent mine collapse on Nov. 17 where 11 bodies have been recovered so far. Voice of America reports that its freelance reporter Khajijan Farqin was detained… chat_bubble_outline Read More...

Vietnamese keen on traveling abroad

Vietnam, with increasingly high income per capita, has become an attractive market targeted by foreign travel firms. Nguyen Thi Thanh, an office worker in Hanoi, who recently returned from a tour to South Korea, said he was surprised when meeting so many Vietnamese travelers in the country. Thanh said the tour was good. “I bought a lot of clothes and cosmetics,” she said.  “The prices of the goods were not much cheaper than the ones in Vietnam. But I can be sure the products are not… chat_bubble_outline Read More...

What might a conflict with North Korea look like?

By his tweets, by his orders, and by his airstrikes last week in Syria, President Trump has opened up a whole new realm of possibilities in Northeast Asia that the rest of the world is just beginning to explore.The focus of that realm is North Korea, whose increasingly sophisticated nuclear and missile programs have prompted Mr. Trump to abandon his predecessor’s policy of “strategic patience.”For the first time since 1994, when then-President Clinton was on the verge of ordering a military… chat_bubble_outline Read More...

Chinese national trade fruits illegally in Vietnam

Chinese dealers are dominating the market for dragon fruit, manipulating supply and prices in Binh Thuan Province, provincial authorities have said.  Nga Minh is one of dragon fruit trading shops do not trade domestically, but export exclusively to China. Chinese dealers are dominating the market for dragon fruit, manipulating supply and prices in Binh Thuan Province. Vietnamese owners of major wholesale shops that trade dragon fruit in Ham Thuan Nam and Ham Thuan Bac districts are dealing… chat_bubble_outline Read More...

Do Kids Take Years Off Your Life? Giving Birth May Make Cells 'Older'

Women who give birth may be biologically "older" than women who don't, a new study suggests.For the study, the researchers analyzed information from 1,556 U.S. women ages 20 to 44 who took part in a national survey from 1999 to 2002, which involved giving blood samples.The researchers looked at the genetic material inside the women's cells, specifically the length of their telomeres. These are caps on the ends of chromosomes that protect the chromosomes from damage. Telomeres naturally shorten… chat_bubble_outline Read More...

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