The signing took place on the sidelines of the 9th meeting of the Vietnam-Australia Joint Trade and Economic Cooperation Committee in Melbourne the same day. It was witnessed by Vietnamese Minister of Planning and Investment Vo Hong Phuc and Australian Minister for Trade Simon Crean.

Under the contract, through a coal JV company Victoria Coldry Pty Ltd , ECT will export 2 million tonnes of dry brown coal a year to Vietnam as from 2014 and will increase the figure to 20 million tonnes by 2020.

ECT will transfer the brown coal dewatering technology (Coldry) to transform brown into black coal equivalent pellets while TinCom will invest US$100 to build a brown coal processing plant in Victoria state together with ECT. The plant is due to be operational in late 2013 or early 2014. 

Minister Crean said the Australian technology will help Vietnamese people use environmentally-friendly products, and take part in the global efforts to reduce gas emissions.