Cement consumption rises in Vietnam

Byjirong

Updated Fri, 21 Aug 2015 17:36:09 GMT

Cement consumption in Vietnam grew 10% y/y to 40.98 million t between January and July. The increase is attributed to higher demand from infrastructure construction projects, including transport, hydro-power and social housing. July alone saw consumption of 6.5 million t of cement.

Exports were also up, at 9.77 million t in the January – July period, marking a 13% y/y rise. It is estimated that cement consumption this year will be between 72 – 74 million t.

Meanwhile, Tan Thang Cement Joint Stock Company has signed a credit agreement worth VND3.1 trillion (US$147 million) with the Bank for Investment and Development of Vietnam and Bac A Bank for the 1.98 million tpy cement plant project in the Quynh Luu district. The agreement has a maximum term of 12 years.

The new plant requires a total investment of VND4.5 trillion (US$213.8 million). The government approved the plant as a key project for the province. Equipment will come from Bedeschi, ThyssenKrupp, Loesche, Haver & Boecker and ABB. About 30% of the plant’s output will be exported to Laos.