Hai Phong Thermal Power ordered to pay 115 billion VND in coal dispute

Hai Phong Thermal Power Joint Stock Company (HND) has been ordered by the People's Court of Hai Phong City to pay approximately 114.82 billion VND to Dan Ka Mineral Joint Stock Company following a legal dispute over a coal supply contract.

The dispute originated from a 2021 contract for the supply of imported coal. While Dan Ka Mineral was the winning bidder for 200,000 tons of coal, a significant rise in global coal prices in 2022 led to disagreements regarding price adjustments. Dan Ka Mineral requested adjustments based on market fluctuations, which Hai Phong Thermal Power did not fully accept.

The appellate court ruling, effective as of September 29, 2026, mandates the payment of over 80.15 billion VND for the price difference of approximately 150,499 tons of coal, plus more than 34.65 billion VND in accrued interest.