HCM CITY (VNS)— PetroVietnam Fertiliser and Chemicals Coporation (DPM) plans to begin production of ammonia and ammonium nitrate in 2017.
DPM and its partners will invest in a US$900 million complex with an annual capacity of 450,000 tonnes of ammonia and 200,000 tonnes of ammonium nitrate.
The corporation is also expected to start producing hydrogen peroxide in 2015, rolling out 30,000 tonnes of the chemical per year.
The news was released on Tuesday, the same day the firm celebrated its 10th anniversary and received the First Class Labour Medal.
Deputy Prime Minister Hoang Trung Hai said at the award ceremony that the company had provided the market with six million tonnes of fertilizer, accounting for 40 per cent of the market demand.
It has also exported around 100,000 tonnes of products to Cambodia, the Philippines, South Korea and other countries. — VNS