Vietnam National Chemical Group (Vinachem) plans to reach an average growth rate of 14.5 per cent per year to meet domestic fertilizer demand by 2015.
According to the group's five-year plan, recently approved by the Prime Minister, Vinachem will become a national leader in the production of everyday chemicals and chemical products for agriculture.
The group, which is aiming to boost its average earnings by 17-18 per cent, plans to develop high-tech rubber products and invest in modern technology to produce radial-ply tyres, synthetic-rubber tubes for vehicles and rubber products for the health and food processing sectors.
Vinachem also plans to launch projects involving the processing of aluminium hydroxide and Cephalosporin antibiotics, with a yearly capacity of 300 tonnes, as well as Vitamin C.
It also plans to invest in modern technology for battery production for the telecommunications industry, computers, clocks, cameras and electric vehicles.
The group is also aiming to produce 500,000 tonnes of detergent.
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