The Vietnam National Oil and Gas Group (PVN) on September 15 held a seminar to evaluate the effectiveness of the Phu My nitro-fertilizer factory, the first petrochemical project in Vietnam.

The President of the PetrolVietnam Fertilizer and Chemical Corporation (DPM), Nguyen Xuan Thang, said that DPM has produced 3.5 million tonnes of high-quality nitrogenous fertilizer since it began operation 5 years ago, saving US$1.3 billion in fertilizer imports.

According to Thang, DPM now has a sales network of 40 outlets, 60 dealers and 3,690 retailers across the country.

Speaking at the seminar, the General Secretary of the Fertilizer Association of Vietnam, Nguyen Thuy Hac, emphasised DPM’s role in stabilising fertilizer prices, especially during the recent summer-autumn and winter-spring crops

“Apart from producing fertilizer, DPM also helps to stabilise prices and control inflation through fertilizer exports and imports,” Hac said.

DPM is the first petrochemical factory in the region that uses the world’s most advanced technology and has a design capacity of 740,000 tonnes of urea a year.

They are now preparing to put into operation the Ca Mau Fertilizer Plant with an annual output of 800,000 tonnes.