Vietnam: PetroVietnam Fertilizer increases financial results

Vietnam biggest fertilizer producer, PetroVietnam Fertilizer & Chemical Joint-Stock Co., produced in 2010 0.8 million tonnes fertilizer, 5.9% more than in the previous year, and imported 0.15 million tonnes to meet the needs of a higher demand. In 2011 the Ho Chi Minh City based company plans to produce 0.77 million tonnes fertilizer. The company, which is a unit of Vietnam Oil & Gas Group, had a 2010 pretax earnings of US$95 million. They came into operation on January 2004 and their Phu My Fertilizer Plant has a nameplate capacity of 1,350 MT/day ammonia and 2,200 MT/day capacity of prilled urea. The plant is located in the Vung Tau Province and was engineered and constructed with licensed technologies from the Danish Haldor Topsoe and the Italian Snamproghetti. They also operate the Ca Mau Fertilizer Plant. Vietnam is the second largest global exporter of rice, but the agriculture’s share of economic output has shrinked from about 25% in 2000 to about 21% in 2009.

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