PM calls for accelerated restructuring of Ha Bac fertilizer factory | Company

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Prime Minister Pham Minh Chinh (grey shirt) pays an inspection visit to Ha Bac Fertilizer Factory (Photo: VNA)

Bac Giang (VNA)Prime Minister Pham Minh Chinh on August 13 called on relevant ministries and sectors to shoulder their responsibilities in resolving difficulties and problems occurring at Vietnam National Chemical Group’s Ha Bac Fertilizer Plant (Vinachem), the expansion of which was completed seven years ago.

During his inspection tour of the factory in the northern province of Bac Giang, Premier Chinh called for increased efforts to complete the restructuring of the factory in August this year under the instructions of the government.

He stressed the need to closely follow the leadership of the Politburo in the restructuring process to ensure adequacy, feasibility and efficiency, thereby serving the national agricultural development.

The rstructuring must be implemented in the direction of product diversification; improve labor productivity; and the renovation of production processes, towards the construction of a green, clean and sustainable factory and the guarantee of jobs and income for its employees, he underlined.

In addition to participating in the management of problems that arise, provincial authorities should regularly carry out their inspection and supervision tasks to ensure that the management of difficulties and obstacles is feasible and effective, he said. declared.

The Ha Bac fertilizer plant modernization and expansion project aimed to increase its annual capacity from 180,000 tons to 500,000 tons.

Invested by Ha Bac Fertilizer Ltd, Co., the project has a total investment of 568.6 million USD and uses modern technologies to protect the environment and save energy.

However, after its commissioning seven years ago, many problems have emerged in recent years, including those related to the environment and finances.

Representatives of relevant ministries and agencies attributed the project’s weaknesses to the fact that the project’s development was not closely grounded in reality, failing to assess the capital structure, debt payment and interest rate. of the loan, entailing enormous financial costs./.

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