Additional USD 220 million invested in Ca Mau Fertilizer Project
19/10/2011 10:10 am
News - A credit contract worth USD 220 million has been signed between the National Oil and Gas Group, PetrolVietnam (PVN), BNP Paribas Bank, the Export-Import Bank of China and Credit Agricole Corporate & Investment Bank (CACIB) to support the Ca Mau Pretilizer Project, reported PVN.
The credit has a duration of 12 years and is guaranteed by the Ministry of Finance.
The Ca Mau Fertilizer Plant is a major national project under the development strategy for the oil and gas sector until 2015, with a view to 2025. Once operational, in the first quarter of 2012, the factory will produce 800,000 fertiliser urea per year, thus ensuring the national supply of fertiliser.
The project has a total capital of USD 900 million. With the signing of the contract, PVN completed all capital for the major national project.
The credit has a duration of 12 years and is guaranteed by the Ministry of Finance.
The Ca Mau Fertilizer Plant is a major national project under the development strategy for the oil and gas sector until 2015, with a view to 2025. Once operational, in the first quarter of 2012, the factory will produce 800,000 fertiliser urea per year, thus ensuring the national supply of fertiliser.
The project has a total capital of USD 900 million. With the signing of the contract, PVN completed all capital for the major national project.
Source: Bao Dang Cong San
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