Ba Ria – Vung Tau, December 12th,2015 – PetroVietnam Fertilizer and Chemicals Corporation (PVFCCO – Stock code DPM) today organized the opening ceremony for the Unit of UFC85– an essential additive in urea production. Attendees included leaders of MOIT, PetroVietnam, PVFCCo, contractors, customers, mass media and press.
Totaling 500 billion VND of investment, located within Phu My Fertilizer Plant’s premises, The UFC85 Unit was completed approximately 1 month ahead of schedule. The Unit completed its test run in the end of November 2015, producing 950 tons of formaldehyde and 360 tons of UFC85 with as high quality as that of imported goods, meeting guaranteed specifications in full.
The Unit capacity is 15,000 tons of UFC85/year, equal to 25,000 tons of formaldehyde/year. It employs the methanol oxidation technology with metal oxide catalyst (a well-known technology at present) lisensed by Haldor Topsoe – a worldwide leading lisensor in invention and technology transfer in petrochemical and oil refining fields, who is also the licensor of NH3 Unit in Phu My Fertilizer Plant. The main contractor is Toyo Vietnam, a member of Toyo-Thai Corporation Public Company Ltd. (now TTCL Public Company Ltd.), who has successfully executed many EPC contracts in Vietnam.
UFC85 and formaldehyde are chiefly used in urea fertilizer production as anti-caking and enhancement agent for urea fertilizer, as glue for wood processing, or as preservatives for medical and food industries… During its first operation phase, the Unit prioritizes production of UFC85 in order to supply to local urea fertilizer plants, including Phu My Fertilizer Plant. Total demand of these plants is approximately 14,000 tons/year, all of which was previously imported from abroad.
“Following the successful opening and operation of Petrochemical Factory in 2014, the commercial operation of UFC85 Unit has marked another improtant step of PVFCCo in its strategy for chemical business development. When operating at full capacity, the Unit will make a revenue of 400-500 billion VND/year, contributing to PVFCCo’s expansion of production and increase of revenues and profit in the coming years”, Mr. Cao Hoai Duong, President & CEO of PVFCCo said.
In preparation for market, PVFCCo has entered long-term agreements with local urea plants. In addition, PVFCCo has also actively engaged with other potential partners, both at home and abroad, in an effort to optimize the production and sales.
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