PVFCCo, NSRP sign deal to expand cooperation

PVFCCo, NSRP sign deal to expand cooperation

Nghi Sơn Refinery and Petrochemical LlC (NSRP) and PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo) have signed a cooperation agreement in Kuwait, marking a strategic step in developing chemical and petrochemical projects.

The signing ceremony for the MoU between Nghi Sơn Refinery and Petrochemical LlC (NSRP) and PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo) in Kuwait. — VNA/VNS Photo

The two companies will jointly study investment opportunities for several potential projects, including collaboration on producing sulphuric acid, ammonia and carbon black. They will also share market data, update feasibility studies and work on developing infrastructure to support production and business as well as strengthening cooperation in operations and maintenance to improve efficiency and safety.

PetroVietnam said that the partnership should promote value chain-based product development and support the operation of Nghi Sơn Refinery, which would form the basis for further chemical and petrochemical cooperation.

PVFCCo is a subsidiary of PetroVietnam, which operates the Phú Mỹ fertiliser plant with an annual capacity of 1.6 million tonnes of fertilisers and chemicals. It is also expanding into higher-added-value and green chemicals.

NSRP is a joint venture between Petrovietnam and Kuwait Petroleum Europe, Idemitsu Kosan and Mitsui Chemicals. It operates a US$9 billion refinery and petrochemical complex with a processing capacity of 10 million tonnes of crude oil per year. 

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