Vietnam’s leading fertilizer firm achieves urea output target a year early
Petrovietnam Fertilizer & Chemicals Corporation (PVFCCo), a subsidiary of state-owned Petrovietnam, achieved a urea output milestone of 15 million tons a year ahead of schedule.
The milestone was reached on October 10, nearly 20 years of operation, at 5% above designed capacity.
The firm, listed on the Ho Chi Minh Stock Exchange (HoSE) as DPM, began producing urea on June 15, 2004 with a designed capacity of 740,000 tons a year.
Nguyen Van Nhung, PVFCCo’s deputy director of production and science-technology, said the 15-million-ton milestone marked employees’ dedication and diligence in operations, maintenance and application of innovations to ensure consistent and stable production.
Although the factory has reached 80% of its lifecycle per its feasibility study, it has set many records, Nhung said. In 2022, its ammonia production line recorded 678 operational days in a row with an output of 900,000 tons, 15% above the designed capacity.
In August 2023, Danish chemicals firm Haldar Topsoe granted an “Outstanding Operation” certificate to the company for the third time in a row, recognizing PVFCCo as one of the best utilizers of Haldar Topsoe’s technology.
Factory maintenance has been special focus of the company, ensuring safe, stable and continuous operations. Currently, it conducts biannual maintenance without halting its operations and carries out general maintenance every other year.
The company carefully prepares for each maintenance work and has fully mastered the complicated procedures involved. The latest general maintenance for 2023 was completed ahead of schedule, meeting all targets of optimal safety, quality, savings and progress, Nhung said.
In recent years, the factory has shifted from equipment condition based maintenance to preventive maintenance so as to avoid unforeseen incidents. This has helped ensure equipment in the best condition and their most efficient operation, thereby prolonging the project’s life cycle.
The professionalism and innovation talent of employees has been key in all these achievements, Nhung stressed.
As of 2022, PVFCCo had recorded 1,608 innovations with benefits valued at VND300 billion ($12.21 million), 20 of which have been recognized as “huge innovations” by Petrovietnam, the Ministry of Industry and Trade, and the Commission for the Management of State Capital at Enterprises (CMSC).
Several other innovations are in their pilot phases, creating massive potential for the company’s sustainable development.
Senior company officials acknowledged that the achievements were made possible by stable gas input from Petrovietnam.
They also said that the production milestones were a gift from "previous generations" of employees who had laid the foundations for the modern factory.
- Read More
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031
The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.
Energy - Thu, November 21, 2024 | 10:41 pm GMT+7
Indonesia, France step up cooperation in economy, defence
Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.
Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7
Thai economy to maintain upward momentum in 2025
The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.
Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7
Former parliament chairman Vuong Dinh Hue warned for violations
The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.
Politics - Thu, November 21, 2024 | 10:10 pm GMT+7
Sumitomo insists on building LNG power plant in central Vietnam
Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.
Energy - Thu, November 21, 2024 | 8:53 pm GMT+7
Vietnam’s Vinhomes fulfils 67% of record buyback plan
Vinhomes, the housing development arm of conglomerate Vingroup, has purchased back 246.98 million shares, meeting 66.75% of the plan and accounting for 5.7% of the outstanding volume.
Finance - Thu, November 21, 2024 | 8:43 pm GMT+7
Vietnam high-speed railway should run beyond Hanoi, HCMC on either side: lawmakers
Vietnam’s mega North-South high-speed railway project should be redesigned and extended beyond Hanoi and Ho Chi Minh City as currently planned, several lawmakers have suggested.
Infrastructure - Thu, November 21, 2024 | 6:11 pm GMT+7
Vietnam-Malaysia relationship upgraded to comprehensive strategic partnership
Vietnam and Malaysia have upgraded their relationship to a comprehensive strategic partnership, the highest level in the former’s diplomatic hierarchy.
Politics - Thu, November 21, 2024 | 5:21 pm GMT+7
Petrovietnam units sign LNG supply deal for trial run of Vietnam’s first LNG power plants
PV Power and PV Gas, two units of state-owned Petrovietnam, have signed an LNG supply deal for trial operation of Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants.
Energy - Thu, November 21, 2024 | 4:40 pm GMT+7
Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister
Minister of Transport Nguyen Van Thang affirmed Wednesday that funding would be secured for building the Long Thanh International Airport, set to become Vietnam’s biggest.
Infrastructure - Thu, November 21, 2024 | 3:53 pm GMT+7
Bamboo Capital wins kudos for transparent reports, good governance
Vietnamese private conglomerate Bamboo Capital Group has been honored as a Top 20 business with the Best Annual Report and the Best AGM Organization at the 2024 Vietnam Listed Company Awards (VLCA).
Bamboo Capital - Thu, November 21, 2024 | 3:37 pm GMT+7
VAFIE to organize workshop on amendments to horse racing, football betting rules
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and The Investor will organize a workshop on suggestions to amend the government’s Decree 06 on horse racing, greyhound racing and international football betting services.
Economy - Thu, November 21, 2024 | 2:38 pm GMT+7
Vietnam Politburo okays international, regional financial centers in HCMC, Danang
Vietnam’s highest decision-making body, the Politburo, has greenlighted the establishment of an international financial center in Ho Chi Minh City and a regional financial center in the central city of Danang.
Economy - Thu, November 21, 2024 | 1:50 pm GMT+7
Singapore's Platinum Victory seeks to gain veto at Vietnam’s REE
Singaporean fund Platinum Victory Pte. Ltd. has registered to buy more shares of Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE) to achieve the vetoing power in the latter.
Finance - Thu, November 21, 2024 | 11:29 am GMT+7
Posco keen on investing in Vietnam's $2.2 bln LNG power project
South Korea’s steelmaker Posco is eyeing to invest in the $2.2 billion Quynh Lap LNG-fired power plant project in Vietnam’s central province of Nghe An.
Energy - Thu, November 21, 2024 | 10:42 am GMT+7
Vietnam firm Hoa Lam to build $212 mln Aeon Mall in Mekong Delta
The Mekong Delta city of Can Tho has accepted a subsidiary of private multi-sector Hoa Lam Group as the investor of the Aeon Mall Can Tho commerce and service center.
Industries - Thu, November 21, 2024 | 10:31 am GMT+7