Chemical industry targets 14-16 percent growth

09:30 | 09/04/2017 Industry Follow Ven.vn on

(VEN) - The Ministry of Industry and Trade issued a recent decision approving the long-term development and production plan of basic chemical products. The plan targets sustainable annual production growth of 14-16 percent of organic and inorganic chemical products.

Chemical industry targets 14-16 percent growth

According to the Ministry of Industry and Trade’s Vietnam Chemicals Agency, by 2025 the country will meet 80-90 percent of demand for some inorganic chemical products such as soda, sulfuric acid, phosphoric acid, hydrochloric acid, nitric acid and ammonia; and 17-20 percent of demand for organic chemical products like MEG, PTA, DOP, VCM, LAB, LAS and methanol.

The Ministry of Industry and Trade will coordinate with relevant ministries and departments, provincial and municipal people’s committees to announce the planning and guide its detailed implementation.

Nguyen Van Thanh, the director of the Vietnam Chemicals Agency, said that to meet domestic demand for a number of chemical products, the planning also emphasizes the expansion of the Zeolite production line in Can Tho City and the DOP Plant in Dong Nai Province.

Other capacity enhancing elements in the plan include upgrading the sulfuric acid production line in Long Thanh Superphosphate Plant to 120,000 tonnes a year, and investing in the construction of sulfuric acid and phosphoric acid production factories integrated in DAP No.3 Fertilizer Production Plant project in Lao Cai Province.

In the 2021-2025 period, the country will continue to invest in inorganic chemical projects to serve the needs of industries such as detergent, glass and paper.

Once the expansion of projects and the construction of oil refinery and petrochemical complexes are completed, the country will focus on the development of organic chemical products attached to those projects in order to utilize raw materials and natural gas resources.

Minister of Industry and Trade Tran Tuan Anh directed that the development and production of basic chemical products must be based on factories with large scale and advanced technologies in order to ensure economic efficiency and to comply with the standards and regulations on environmental protection.
Natural resources such as limestone, apatite ore, bauxite ore, petroleum, natural gas and sea water must be exploited in an efficient and economical manner, he said.

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Chemical industry targets 14-16 percent growth

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