Mining Machines enters Vietnamese market
May 23, 2012, 11:42 a.m. | Business
— by Interfax-Ukraine
Ukrainian company Mining Machines has signed a contract for the turn-key construction of two shafts of Nui Beo mine with Vietnamese firm VINACOMIN-Underground Mine Construction Company.
Ukrainian company Mining Machines, a leader in the production of mining equipment, and which unites the engineering assets of the System Capital Management Group (SCM, Donetsk), has signed a contract for the turn-key construction of two shafts of Nui Beo mine with Vietnamese firm VINACOMIN-Underground Mine Construction Company.
The value of the contract has not been disclosed.According to the report, Luhanskpidzembud, which has over 20 years of experience in mine works on the Southeast Asian market, will build the mine shafts.
National Mining University (Dnipropetrovsk) will act as a consultant and will draw up and realize a program for the training of the Vietnamese employees who will take part in the construction on how to work in such shafts, and on the rules for the exploitation of Mining Machines' equipment.The equipment that will be used to construct the shafts will take into account local geological specifics and ensure the Vietnamese company stays within its desired budget for the work.
"The Vietnamese market for our company is one of the key markets in line with our strategy. In the next four years Vietnam plans to boost coal extraction to 75 million tonnes per year. Growth in extraction by 35 million tonnes from the current level will be ensured thanks to underground extraction. The agreement signed with the largest national company will allow us to strengthen our presence in Vietnam," reads the report, citing Mining Machines Director General Yevhen Romaschin.
"We're glad that a consortium headed by Mining Machines has become our partner in the construction of facilities important to our state. Ukraine has some advantages, which predetermined our choice in its favor: successful experience, proved technologies, scientific support and reliable equipments," reads the release, citing a representative of VINACOMIN-Underground Mine Construction Company, Pham Dyc Hiem.
Mining Machines is a large Ukrainian producer of mining equipment. The group designs, produces, delivers and maintains equipment and machinery for the mining industry.The group incorporates some engineering plants and companies in Ukraine and Russia.
VINACOMIN-Vietnam National Coal and Mineral Industries Group is the only company that extracts coal, nickel, aluminum, iron ore and other deposits in Vietnam. It is fully owned by the state. The group extracts 40 million tonnes of coal every year.