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Petrovietnam plans fertiliser venture in Morocco

Reuters - Monday, May 12

HANOI, May 12 - State oil monopoly Petrovietnam's fertiliser unit PVFCCo plans to establish a joint venture with Morocco Office Cherifien des Phosphates to invest in a fertiliser plant in Morocco.

The Vietnam News Agency on Monday quoted PVFCCo as saying it had signed a memorandum of understanding with OCP to jointly invest $600 million in the project, which is scheduled to be completed by 2011.

PVFCCo now operates Phu My Fertiliser plant with an annual capacity of 740,000 tonnes in southern Vietnam.

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