HCM, June 15 2011 – Petrovietnam fertilizer and chemicals (PVFCCo – stock code DPM) officially announces its timely accomplishment of Phu My Urea Plant’s maintenance plan. As to Phu My Urea Plant’ periodical maintenance plan which is biannually conducted, following the call of “30 day effort for accomplishing maintenance plan of 2011” whose highlighted criteria are put at the highest requirements for quality, timeline, cost saving and safety, PVFCCo timely accomplished the maintenance of 415 categories, leaving the Plant come into operation at 23h16’ June 14, 2011. Phu My Urea Plant resumes its operation after 30 days of maintenance are of high significance in continuingly providing market with substantial amount of fertilizer, relieving the stress of current domestic supply. In the meantime, Central – highland and South East region face their peak time of fertilizer demand while South West region are at the threshold to enter Autumn Winter Crop with the lowest safety stock due to Phu My Urea Plant’s maintenance period, and low importing amount of fertilizer within the second quarter because of worldwide sharply increasing price as well as difficulty in looking for supply. Addressing the situation, PVFCCo and its regional companies seriously shortened distribution time of Phu My Urea toward their channels, simultaneously intensifying their supply via importing activities to meet farmers’ fertilizer demand. The total amount of fertilizer PVFCCo plans to push into the markets in this crop (from May to July) is 200,000 ton or so. Beside its traditional product – urea, since middle June 2011, PVFCCo launched its new product line with high quality – Phu My NPK 16-16-8+13S, which is produced with modern technology combining 3 chemical elements including nitrogen (N), phosphorus (P), potassium (K), and an additional one sulfur (S) in each unit, and with estimated consumption till the year end is 36,500 tons. This launching campaign marked the first step of pre-market process for NPK’s new product range of NPK Plant whose capacity is 400,000 tons, and total investment capital is USD 63 million. As a project investor, PVFCCo plans to kick off the Plant in the 3rd quarterly of 2011 and finish in 2013.
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