Fertiliser plant in Morocco to supply Vietnam
Hanoi (VNA) – A joint venture between Vietnamese and Moroccan companies will see construction of a 600-million-USD fertiliser plant in Morocco to supply Vietnam and other countries in the region.
A memorandum of understanding on investment to build the diammonium phosphate (DAP) plant will be signed by PetroVietnam Fertilizer and Chemical Company and Office Cherifien des Phosphates (OCP) next month.
Making the announcement on July 17, the Vietnam Oil and Gas Group (PetroVietnam) said it has established a steering board for the plant capable of producing up to 1 million ton a year.
Together with a 330,000-ton-per-year DAP plant in Dinh Vu, Hai Phong, the new joint-venture plant, to be operational in 2011, is expected to help Vietnam reduce imports of DAP.
Owned by the Moroccan Royal Family, OCP is the third biggest phosphates producer in the world and annually exports 30 million tonnes of phosphates.
It holds 33 percent of the world DAP market share and its assets are worth 3.6 billion USD.
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