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Phu My Fertilisers to train Ca Mau staff   2009-05-06 - Sanotc

PetroVietnam has chosen PetroVietnam Fertiliser and Chemicals Corporation (Dam Phu My), which is listed at the HCM City Stock Exchange (HOSE) as DPM, to recruit and train staff for its Ca Mau Fertiliser Factory.

Nguyen Xuan Thang, DPM’s chairman, said the company’s experience in running its factory and maintaining an effective distribution network were the reasons for the choice.

The Ca Mau Project, located in the southernmost province of Ca Mau, begins production in early 2012. DPM will operate the future plant and organise the distribution of its products.

Thang said details of the hiring contract have not been specified, but confirmed that it would ensure the interests of related sides, including DPM’s shareholders.

PetroVietnam is the owner of the Ca Mau Fertiliser Project, which has a total investment of US$900 million.

It has a designed capacity of 800,000 tonnes of products per annum.

Speaking at yesterday’s press briefing on DPM performance in the first four months of the year, Thang said DPM had achieved a turnover of VND2.479 trillion (US$138 million), which yielded a pre-tax profit of VND467 billion, with both figures representing around 43 per cent of the year’s targets.

The southern Ba Ria-Vung Tau Province-based DPM has the capacity to turn out 740,000 tonnes of fertiliser per year and is upgrading to increase the capacity to 800,000 tonnes, according to deputy general director Nguyen Duc Thanh. It now meets around 40 per cent of domestic demand.

The company has sold its product to Laos on a trial basis in order to diversify outlets in the future.

Viet Nam’s demand this year is forecast at around 1.7 million tonnes. Another fertiliser factory in the northern province of Bac Giang produces 150,000 tonnes each year. Several others are under development.

Thang disclosed that DPM was exploring opportunities to list on an overseas exchange, and said Singapore was among the options. (VNS)

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