Xuan Son Cement is nearing completion and is expected to operate by the end of 2024.

The investment project to build Xuan Son Cement factory in Hoa Binh , with a capacity of 2.3 million tons/year, has completed over 90% of the work volume and is expected to operate at the end of 2024.

The investment project to build Xuan Son Cement factory in Hoa Binh, with a capacity of 2.3 million tons/year, has completed over 90% of the work volume and is expected to be operational by the end of 2024.

The cement industry is about to welcome new projects into operation.

As of early November 2024, Xuan Son Cement Factory has completed over 90% of the work volume.

The main items in the factory have been completed, including: limestone warehouse, clinker warehouse, cement additive warehouse, dosing station, bucket elevator, packaging line, packaging house, cement grinding station, 110 kV power station has been completed and ready to be energized and put into operation.

The remaining construction items in the project are being urgently completed and are expected to be put into operation in December this year.

Xuan Son Cement Factory is located in Ngoc Luong commune, Yen Thuy district, Hoa Binh province, invested by Xuan Khiem Group Joint Stock Company, with a capacity of 2.3 million tons/year in phase 1 and a total investment of nearly 5,000 billion VND.

All equipment and machinery of the factory are from major brands in the world such as: Haver & Boecker, Polysius, ABB... The factory's production line is designed and supplied by Tianjin Design Institute - China and G7 countries.

Cement supply is in large surplus, especially in the northern provinces. The Xuan Son cement project, completed and put into operation at this time, will not be favorable for the market, because both domestic and export cement consumption have decreased.

In 2023, domestic cement consumption was less than 60 million tons, and it is expected that in 2024 it will be equivalent to this output level. Export channels have also decreased in recent years, around 31-32 million tons/year and are still decreasing. In the first 10 months of 2024, cement and clinker exports reached 25.3 million tons, worth 963 million USD, equal to 96.3% in volume and 85.9% in value compared to the same period last year.

The total designed capacity of the cement industry has now exceeded 123 million tons and it is entirely possible to exceed this level by tens of millions of tons more by adjusting the ratio of additives.

Excess production is the main reason for the difficulties in cement production and business activities. In addition, the unfavorable consumption market situation, due to the sluggish real estate market and lack of new projects, many businesses continue to report losses.

Vicem But Son Cement Joint Stock Company's after-tax loss in the third quarter of 2024 was VND 26 billion, the eighth consecutive quarter the company has suffered losses (from the fourth quarter of 2022). In the first 9 months, Vicem But Son achieved revenue of VND 1,840 billion, down 3%, with a net loss of nearly VND 122 billion.

For Vicem Hoang Mai, net revenue in the first 9 months reached nearly VND 1,204 billion, down 5% compared to the same period last year and a net loss of more than VND 51 billion. The total accumulated loss by the end of the third quarter of 2024 of the enterprise is more than VND 76 billion.

Source: https://baodautu.vn/xi-mang-xuan-son-sap-hoan-thanh-du-kien-van-hanh-cuoi-nam-2024-d229522.html