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Article: VIETNAM'S CA MAU FERTILISER PLANT PROJECT SET TO RAISE INVESTMENT CAPITAL.
- Article from:
- AsiaPulse News
- Article date:
- July 2, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HANOI, July 2 Asia Pulse - The Vietnam Oil and Gas Corporation (PetroVietnam) on Wednesday submitted to the Prime Minister a request for increasing the Ca Mau Nitrogenous Fertiliser Plant project's investment capital of US$493 million to US$612 million.
Explaining the increase of nearly US$120 million in the project's investment capital, PetroVietnam cited the euro appreciation against the US dollar while it has bought the equipment for the plant mainly from European countries.
In addition, the corporation also admitted the construction of the plant's foundation has become more complicated than expected, therefore, the cost for the work is likely to go ...