PetroVietnam, OCP to build Morocco DAP plant

13 May 2008 11:41  [Source: ICIS news]

SINGAPORE (ICIS news)--Petrovietnam Fertilizers plans to enter a joint venture with Morocco's Office Cherifien des Phosphates to invest and build a diammonium phosphate (DAP) plant in the North African state, a company source said on Tuesday.

The plant, with an estimated annual DAP capacity of 700,000-1m tonnes/year, would cost more than $600m (€386m) and be expected to come on stream by early 2011, she said, without providing further details on the breakdown of the JV.

“Vietnam’s agricultural market is core to its economy and is a very large market,” said a company source. "We feel that there will be increased demand for DAP fertilisers."

The subsidiary of state-owned PetroVietnam earlier announced other investment plans which include a $900m fertiliser plant in Ca Mau, Vietnam and a mega $5.8bn refining and aromatics complex in northern Vietnam .

($1= €0.64)

To discuss issues facing the chemical industry go to ICIS connect

By: Bohan Loh
+65 6780 4359

< previous article(VIDEO – ICIS news Americas Lunchtime Bulletin 28 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly