To meet the increasing demand for ammonia and ammonium nitrate, serving the agricultural production, national defense and chemical; on the basis of a cooperation agreement between Vietnam Oil and Gas Group (PVN) and General Army Of Economic And Technology Corporation (GAET), recently, 3 parties, including PV Gas, Petroleum Fertilizer and Chemical Corporation (PVFCCo) and GAET have signed a memorandum of understanding for investment and construction of the ammonia (NH3) and ammonium nitrate (NH4NO3) producing complex from natural gas at the Phu My IZ, Ba Ria - Vung Tau province. The Company is expected to be named PG Phu My Chemical Corporation, has an initial chartered capital of 300 billion dong. The charter capital contribution ratio of the parties is namely: PVFCCo with 55%, GAET with 40% and 5% of PV Gas’s injection. The complex includes (but is not limited to) the ammonia producing plant with a capacity of 200,000 to 450,000 tons and the ammonium nitrate producing plant with a capacity of 200,000 tons of ammonium nitrate, are produced from natural gas.