Hanoi June 7, 2015- Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo – ticker DPM, the producer and trader of Phu My Fertilizers) together with the contractor consortium of Technip Group, ThyssenKrupp Industrial Solutions and Petrovietnam Technical Services Corporation (PTSC) sign the EPC Contract (Engineering, Procurement, Construction and Commissioning) for Phu My NH3 (revamping) – NPK Complex. The signing ceremony takes place at Petrovietnam head office under the witness of distinguished guests from Government, Petrovietnam and other partners.

Phu My NH3 (revamping) – NPK Complex covers an area of over 15 hectares, on the land of Phu My Fertilizer Plant at Phu My 1 Industrial Zone, Ba Ria – Vung Tau Province. The total invested capital of this complex project is nearly VND 5,000 billion (equivalent to USD 237 million), with 70% financed by bank loan and 30% by the Owner’s equity, consisting of two parts: NH3 Workshop (revamping) and Phu My NPK Plant.

The NH3 Workshop (revamping) will increase the current NH3  output at Phu My Fertilizer Plant by 90,000 tons/year (from the current 450,000 tons/year to 540,000 tons/year), using the technology from  Haldor Topsoe A/S (Denmark). The EPC contractor consortium consists of Technip Group (previously also the Contractor for Phu My Fertilizer Plant) and Petrovietnam Technical Services Corporation (PTSC). A part of NH3 produced will be used as direct feedstock for Phu MyNPK Plant, the other part will satisfy the domestic demand for NH3, which is still in great shortage.

The projected Phu My NPK Plant with capacity of 250,000 tons/year, is the first in Vietnam to apply the chemical technology of Incro SA (Spain), the most advanced technology in the world to produce high-quality NPK fertilizer with guaranteed content of all necessary elements that are suitable to crops at different growth periods and under different soil conditions. The contractor consortium is ThyssenKrupp Industrial Solutions and Petrovietnam Technical Services Corporation (PTSC). Reportedly, Vietnam demands around 4 million tons of NPK every year, of which high quality NPK fertilizer can only meet 5-10%. The products of Phu My NPK Plant will replace most of currently imported NPK.

Mr. Cao Hoai Duong, PVFCCo’s President & CEO said: “The fact that PVFCCo selects the world’s most advanced technologies, the equipments of European origins and the contractor consortium including the reputable Group and companies experienced in large global projects will ensure timely and safe project completion with high-quality products of international standard. After 26 months of implementation, the Project is expected to be brought into operation in the second quarter of 2017, raising PVFCCo to a new height of development. In addition, this project is a typical demonstration for the use of internal resources within the Oil and Gas industry to support the agriculture of our country with high-quality fertilizers”.

Below are some photos: