PVFCCo charges ahead

December 02, 2010 | 10:58

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PetroVietnam Fertiliser and Chemicals Corporation has surpassed its annual target plan for production and revenue.

The corporation (PVFCCo) reported on December 1 that its total output between January and November this year was 740,000 tonnes of urea fertiliser, a month ahead its set full-year plan.

PVFCCo has met its full year revenue target of VND5.7 trillion ($285 million) by the end of November. The pre-tax profit was estimated around VND1.6 trillion ($80 million), an increase of 59 per cent against its set target for this year.

The corporation boosted imports to stabilise the domestic market for the winter-spring crop at the year’s end. Of which, 10,000 tonnes of urea fertiliser was imported in November along with 25,000 tonnes of urea shipped to Vietnam during September and October this year. The corporation’s output and imports, however, satisfy only a half of the demand for the fertiliser in Vietnam this year.

PVFCCO in September put into operation of the CO2 Recovery unit for accelerating its urea fertiliser production after one year construction.

The firm’s stock was traded at VND34,400 ($1.72) a share on December 1, a slight decrease by 0.8 per cent against the transacted price in the previous day.

By Van Anh

vir.com.vn

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