An engineering-procurement-construction (EPC) contract was signed on October 5th in Hanoi among Ha Bac Nitrogenous Fertilizer and Chemical Company, a Chinese company, Vietnam Chemical Industry Design Company and Shell.

Under the contract, the parties will invest US$ 373 million to upgrade and extend Ha Bac Nitrogenous Fertilizer Plant in Bac Giang.

The investors and entrepreneurs affirmed that they will import and install only advanced technology and machinery from Germany, Netherlands, Demark and Italy, which is not only effective in production but also environmental-friendly.

In addition to new equipment instalments, new workshops will be erected adjacent to the old plant.

According to estimates, the money will be borrowed from the Investment and Development Bank of Vietnam and other commercial banks.

Under the commitments, the project will finish in 42 months’ time.  

Source: DDDN

Translated by Thu Nguyen