VN invests in fertilizer project in Russia
17:00 | 05/08/2009
VGP - Việt Nam will spend US $1.5 billion to build a joint venture fertilizer plant located in the Republic of Kalmykia, a constituent republic of the Russian Federation, announced the Foreign Investment Agency under the Ministry of Planning and Investment.

Illustration photo

The plant is scheduled to make the first batch of fertilizer in 2013, which will be exported back to Việt Nam.

Việt Nam spent US $969 million to import Russian goods in 2008, including US $156 million for fertilizers.

Now, the country is running 19 investment projects with the total registered capital of US $1.7 billion in Russia.

Among 46 foreign destinations for Vietnamese investors, Russia is the second biggest one, after Laos.

Several large-scale projects there include Rusvietpetro joint-venture company (US $1.25 billion), an oil exploring project in Nagumanov (US $255 million), Hà Nội Trade Center (US $120 million), and a tile producing mill (US $15 million).

By Ngọc Vân

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