Mr. Cao Hoai Duong – PVFCCo’s President & CEO – said Phu My Fertilizer Plant currently operated at full capacity, with estimated output of200,000 tons of urea in Quarter II/2012. Besides, PVFCCo would import 30,000 tons of urea to replenish the domestic supply source, which would, plus 60,000 tons in stockpile, satisfy the market demand.

Cong Thuong newspaper- After nearly 8 years in operation, with the annual output of 740,000 tons of urea and increased to 800,000 tons from end of 2010, PVFCCo has now produced and distributed nearly 6 million tons of fertilizer in total, helped reduce the urea import turnover by nearly USD 300 million per year, contributing to saving nearly USD 2 billion for the country.

In an effort to satisfy the domestic fertilizer demand to the maximum, PVFCCo always maintains its production at full capacity. Besides, PVFCCo also actively seeks to import  fertilizers of best quality at most competitive price to supplement the domestic supply. In recent years, PVFCCo has recorded a spectacular growth rate. In 2011, its turnover reached VND 9,763 billion, increased by nearly 44%, net profit reached VND 3,104 billion, upby nearly 82% as compared with 2010.

With PVFCCo’s effective business performance and high growth rate, despite the volatile context of the financial market in general and the stock market in particular, DPM stocks maintain robust (in the stock group that has strongest surge in the stock exchange) and high liquidity. According to stock experts, DPM stocks attracts investors because Phu My Fertilizer Plant has large capacity with total investment of USD 370 million; using the world’s leading technology on fertilizer production, and modern close-end technology cycle. In particular, PVFCCo’s devoted leaders with creative and venture-minded spirit; with more than 800 young, skilled and professional engineers as well as workers, plus its advantage of gas material sources, help produce Phu My Fertilizer products of high quality, at competitive price as compared with foreign imports.

Apart from undertaking the role of fertilizer supply for the agriculture, PVFCCo has also become a training place for engineers and workers from Dung Quat Oil Refinery, Ca Mau Fertilizer Plant, Petroleum Institute, and College of Petroleum. So far, the planthas trained nearly 500 practical engineers for other units in the industry.

Satisfying 50% of the domestic fertilizer demand, effectively supporting the agricultural production, PVFCCo does not only regulate and stabilize the fertilizer price in the market and secure food security but is also considered as a typical example for proper implementation of the Party’s policy on the agriculture, rural areas and farmers, a symbol of agriculture-industry alliance, contributing to changethe face of Vietnamese rural areas with bumper crops.

According to Bui Minh Tien – PVFCCo’s Chairman of the BOD, in 2012, the fertilizer production and consumption market would undergo drastic changes. Apart from Ca Mau Fertilizer Plant (PVN) officially operationa lwith annual capacity of 800,000 tons, products from Ninh Binh and Ha Bac Fertilizer Plantare also available, bringing the total output of domestic fertilizer up to 2.38 million tons/year. As such, the fertilizer market will officially experience oversupply, forcing the domestic businesses to look forways to export. Anticipating this situation, PVFCCo has prepared the plans onfertilizer export. Currently, PVFCCo has opened the representative office in Cambodia, signed a memorandum with the foreign partners such as from Japan, Switzerland to seek exportto the world market. In addition, PVFCCohas the policy to diversify investments and production with other fertilizers such as NPK, microbiological…

Along with boosting the production-sales, setting up regional wholesaler networks  nation-wide to directly supplying fertilizer supply to farmers, PVFCCo is also a leader in community, social welfare and charity programs. In 2011, PVFCCo disbursed nearly USD 140 billion for social welfare and the community programs. Recently, PVFCCohas visited and donated money to families of 21 fishermen detained on 3/3/2012 while fishing inwaters of the disputed Paracel islands (Hoang Sa) of Ly Son District, Quang Ngai Province on, with VND 10 million for eachfamily.

In Quarter I/2012, Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo) has supplied approximately 305,000 tons of Phu My Urea for the winter-spring crop, up by 102,000 tons as compared with the same period last year. As expected, in Quarter II/2012 PVFCCo will further supply about 390,000 tons of urea including 230,000 tons for Mekong Delta areas, satisfying the demand of the coming summer-autumn crop.