Vinachem to invest vnd60.98tln in fertilizer projects in 2012-2015 period

News - Vietnam Chemical Group (Vinachem) plans to invest a total of VND60.982 trillion ($2.887 billion) on its fertilizer projects in 2012-2015 period, Nguyen Quoc Tuan, chairman of Vinachem said.

The investment will be used to upgrade the DAP fertilizer factory in Dinh Vu, Haiphong to raise its capacity to 660,000 tons per year and to complete the DAP fertilizer plant No.2 in Lao Cai province which is expected to run an annual capacity of 330,000 tons.

Vinachem targets to produce one million tons of DAP fertilizer by 2015, Tuan said, adding that the group will focus its investments on production of pesticide, rubber, antibiotics and some chemicals.

Currently Vietnam has to import 660,000 tons of DAP fertilizers per year.