PM OKs Construction of Fertilizer Plant in Ninh Binh

2:12:32 PM | 7/11/2007

Vietnamese Prime Minister Nguyen Tan Dung has given a nod to the Vietnam Chemical Corporation (Vinachem) to ink Engineering, Procurement and Construction (EPC) deal with China’s Huan Qiu company to build a fertilizer plant in northern Ninh Binh province.
The PM required Vinachem to work with the ministries of finance, planning and investment for the use of a preferential export credit worth $500 million for the project from the Chinese government.
The Ninh Binh fertilizer-coal plant will be capable of churning out 560,000 tons per annum.
Scheduled to be completed by 2009, the plant will provide enough fertilizer for farmers in northern Vietnam, who spend more than $90 million on imported fertilizer annually.
The project is expected to generate more than 71 million kWh of electricity per year as well. (People)