Vietnam embarked on 20 cement projects last year with the total investment capital of over VND4 trillion ($255.3m). Vietnam Cement Corp started 11 cement production projects last year, of which, Tam Diep Cement Plant with total investment capital of VND485 billion ($30.9m) and an annual capacity of 1.4Mt was put into operation. The corporation also invested VND938 billion ($59.75m) in 2004 in building the Haiphong Cement Plant, which is scheduled for completion in December 2005. Song Gianh Cement Plant, constructed by Central Construction Corp., is expected to begin production of clinker by the end of this year. Preparation works are underway for the construction of many other cement projects in the country such as Hung Vuong, Tay Ninh, Tuyen Quang, Yen Binh, Cam Pha, Ha Long and Thang Long cement plants.
In related news, cement companies in Vietnam will increase cement price due to growing domestic cement demand, especially for construction.
The Holcim Cement Joint-Venture will rise its cement price by 0.58 per cent from VND865,000 to VND870,000 per ton. Some other companies are also mulling over rising their cement price due to sharply increase in cement consumption because a series of big construction works in the south will begin in 2005.
In Ho Chi Minh City, cement prices has risen VND500-VND1,000 per 50kg bag since early this year. Ha Tien cement increased its price to VND48,500 per bag, Holcim cement to VND47,500, Nghi Son Cement to VND46,000 and Chinfon and Cotec to VND45,000 per bag.
