PVFCCo and Morocco firm sign 600 mln USD fertiliser plant deal

Monday, May 12, 2008
PetroVietnam Fertilizer and Chemical Joint Stock Company (PVFCCo) and the Office Cherifien des Phosphates (OCP) of Morocco have signed an agreement to build a fertiliser plant valued at 600 million USD in the African country.
T he plant will be capable of producing from 660,000 to 1 million tonnes of diamonium phosphate (DAP) fertiliser to supply to Viet Nam and other regional markets, sources from the Viet Nam National Oil and Gas Group (PetroVietnam) said on May 10.

The DAP plant, which will be built soon, is slated to begin operations by 2011, becoming Viet Nam ’s largest project invested abroad so far.

The agreement, signed in the witness of PetroVietnam Chairman Dinh La Thang and OCP Chairman Mostafa Terrab, also outlined a joint plan to build an ammoniac plant in Viet Nam or a third country if there are enough natural gas supplies for the project.

During their recent meeting at the OCP headquarters, both Thang and Terrab affirmed the resolve to successfully carry out the inked project, describing it as a symbol of cooperation between the two groups and a landmark in ties between Viet Nam and Morocco. (VNA)