Phu My fertilizer plant (Ba Ria – Vung Tau)   Phu My fertilizer plant is built in Phu My 1 industrial zone, Tan Thanh town, Ba Ria Vung Tau province with total square of 63 hectare and total estimated investment cost of 445 million USD. The plant is expected to have the designed output of 741.400 urea ton/year and 422.598 ammoniac ton/year and provide 40% of domestic urea demand.  The plant applies modern technology currently most used worldwide, which was provided by established corporations from G7 and European countries with main technical workshop: ammoniac production, urea production, generator system, nitrogen production, industrial sewage treatment system to name a few.. The plant is designed to strictly meet international and Vietnamese environment standards. In the very first stage, Phu My fertilizer plant project had a lot difficulties in an effort to attract investment because of its huge investment cost, low fertilizer price due to bad economic conditions after 1997-1998 financial crisis, high financial risk and unattractive economic effectiveness. Other investors interested in the projects demanded unacceptable preferential treatment conditions from the Government.             Fertilizer production is chemical industry’s duty and almost large scale fertilizer projects, plants mainly belonged to Vietnam chemical corporation’s subsidiaries at that time, which are so experienced in fertilizer production and trading. However, due to limited financial resources, it’s a big challenge for Vietnam chemical corporation to deploy any large scale fertilizer plant.            With strong financial strength and investment project management from investment experience inheritance in oil & has exploitation project management, oil & gas industry petitioned to the Government on self investment option. The Government then approved and transferred fertilizer production and trading projects to Oil & Gas Corporation (currently Petrovietnam National Oil and Gas Group) as the main projects’ investor. The resolution expressed a nationwide holistic beneficial vision as well as strong oil & gas industry building passion, laying the firm foundation on Vietnam infrastructure and agricultural development, maintaining a strong worker-farmer alliance.             The Government has offered strong supports for Oil & Gas industry to complete the project such as reasonable price input, preferential treatment of enterprise taxes, ground clearance and long-term land using supports…             After 3 operation years, on September 2004, Phu My fertilizer plant became a high tech and large scale plant which is stably, safely operated and produced high quality products. During Vietnam development history in general and oil and gas industry in specific, Phu My fertilizer plant is one of the least big plans which is accomplished on time with high quality maintaining and less investment costs than estimated (the consolidated investment cost for the plant is 380 million USD, a significant saving compared with first estimated number of 445 million USD)            After 6 years of operation, Phu My fertile plant has been effectively exploited and operated, reaching the break even point after 4 years, (in 2008, loan capital was paid off), and bringing high revenues and profits each year. Up to 2010, the plant has produced 4.5 million of urea for domestic agriculture, which helps Government benefited billions of USD due to reduced importing turnover.             Although operated in large scale, with high pressure and temperature and poisonous & toxic substances, Phu My fertilizer plant still maintains environmentally friendly conditions. Vietnamese technician mastered modern technology and took place of foreign experts after one years             It was the perfection of selection of technology and equipment that allowed Phu My fertilizer plant to produce world – class quality products, stable and increasing output, leading to its designed output reaching after a very short period. Almost products from Phu My fertilizer plant meet first class quality and second class quality (least of them are with third class quality)             During 6 operation years, the plant encompassed 3 successive years of exceeding the designed output (740 thousand tons). The plant’s output reached 740 thousand ton in November 30, 2010 and reached 800 thousand ton for the whole year. This figure has a big impact in the context of Vietnam urea undersupply market. Moreover, the plant’ s outputs has taken a firm place in customers’ mind and trust who used to use foreign imported urea. Source: Daukhi.vietnamnet.vn