PetroVietnam fertilizer inks output expansion deal with Samsung

PetroVietnam Fertilizer and Chemical Joint-Stock Co., Vietnam’s biggest fertilizer producer, has signed a deal with Samsung Engineering Co. to expand its production facilities to boost its output by more than 8 percent.

The expansion will cost US$27 million and will boost fertilizer output to 800,000 tons a year from 740,000 tons after construction is completed in two years, said the Ho Chi Minh City-based PetroVietnam in a statement.

Shares of PetroVietnam Fertilizer, the second-biggest company by market value on the Ho Chi Minh Stock Exchange, were unchanged on Friday, closing at VND35,400 before the statement was sent.

Vietnam needs as much as 1.7 million tons of fertilizer a year, according to the Vietnam Fertilizer Association.

Bloomberg

>   Saigonbank aims to raise $27.4 million in share sale (13/01/2009)

>   HASTC Notice: First trading day of PTM (12/01/2009)

>   PVI: Board resolution (12/01/2009)

>   Cho Lon Securities JSC closes the order-receiving agency in Ho Chi Minh city (12/01/2009)

>   Viet Nam Small and Medium Enterprises Securities Corporation: Change in name of the company (12/01/2009)

>   Ha Thanh Securities Joint stock Company closes the Nguyen Du transaction office (12/01/2009)

>   HSBC predicts a more difficult year 2009 for Vietnam’s stock market (12/01/2009)

>   SFN to buy back stock (12/01/2009)

>   NHC: Approval for additional listing (12/01/2009)

>   CAN: Trading Result (12/01/2009)