Cong Thanh Cement defends decision to build grinding plant
Vietnam: Cong Thanh Cement has defended its decision to build a grinding plant at Cam Ranh in Khanh Hoa province despite high debts, a domestic cement surplus and poor market conditions. A spokesperson said that the company’s loan liabilities have reached US$606m, according to the Việt Nam News newspaper. It has declared a revenue target of US$19.4m for 2017 with a loss of US$1.93m expected. A cement surplus and high fuel prices adding to transportation costs have contributed to the problems the company faces. The cement producer operates a two-line 6Mt/yr plant at the Nghi Son Economic Zone in Thanh Hoa Province.
