HCMC – Binh Dien Fertilizer Co. plans to develop two NPK fertilizer plants to meet market demand.
New NPK fertilizer plants underway
By Pham Thai - The Saigon Times Daily
HCMC – Binh Dien Fertilizer Co. plans to develop two NPK fertilizer plants to meet market demand.
The plants will be built in Ninh Binh and Dong Nai provinces with respective output capacity of 150,000 and 200,000 tons per year, said Le Quoc Phong, general director of Binh Dien Fertilizer Co.
“As the economy still faces challenges, we will calculate construction and operation to satisfy the market demand for NPK fertilizer,” said Phong.
Apart from the Binh Dien plants, there is a NPK fertilizer project currently being implemented by PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) in Nam Dinh, with investment capital of VND193 billion and annual output of 100,000 tons, said the Vietnam Chemicals Agency under the Ministry of Industry and Trade. The agency remarked the national demand for NPK fertilizer is 3.5 million tons, but the existing plants can only supply a combined 3.42 million tons.
According to the statistics of the General Department of Customs, as of June 15, the country had imported 104,000 tons of NPK fertilizer worth nearly US$51.2 million, up 2% year-on-year. With new NPK fertilizer plants to start operation in the next 1-2 years, imports would drop and prices would be more stable.