Company news

On the afternoon of February 24, 2026, at the headquarters of the Vietnam National Energy Industrial Group, a signing ceremony was held for the cooperation contract to supply Liquid Caustic Soda (NaOH) to the Nghi Son Refinery and Petrochemical (NSRP) plant. The agreement was signed between the PetroVietnam Chemical and Services Joint Stock Corporation (PVChem)—a subsidiary of Petrovietnam—and the Viet Tri Chemical Joint Stock Company (Vitrichem)—a subsidiary of the Vietnam National Chemical Group (Vinachem).

This event marks a significant milestone, demonstrating the close and effective partnership between the core enterprises of two major State economic groups. It ensures a stable, safe, and high-quality supply of Liquid Caustic Soda for the production and operations of Nghi Son Refinery and Petrochemical LLC. Furthermore, this collaboration leverages the strengths of each party within the domestic industrial chemical supply chain, aiming to increase localization rates and enhance the competitiveness of Vietnamese enterprises, in line with Resolution 79/NQ-CP regarding the development of State-owned enterprises associated with national energy security.

Distingushed Guests and Leadership

Representing Vinachem at the ceremony were:

• Mr. Nguyen Huu Tu: Member of the Board of Directors, President & CEO of the Group.
• Ms. Nguyen Thi Thu Binh: Member of the Board of Directors.
• Mr. Nguyen Van Luyen and Mr. Le Hoang: Vice Presidents of the Group.
• Representatives from various specialized departments.
• Representing Vitrichem: Mr. Van Dinh Hoan, CEO, and the company’s leadership board.

Representing Petrovietnam were:

• Mr. Le Xuan Huyen: Vice President in charge of the Executive Board.
• Mr. Bui Minh Tien: Member of the Board of Directors.
• Representing PVChem: Mr. Truong Dai Nghia, Chairman of the Board of Directors; Mr. Duong Tri Hoi, CEO, along with leaders of relevant units.

According to the signed agreement, the two parties will coordinate to implement the bid for supplying 50% Liquid Caustic Soda (NaOH) to the Nghi Son Refinery for the 2026–2028 period, with a total volume of 138,600 tons. Previously, Vitrichem and PVChem successfully collaborated on the tender, affirming their competitive capacity, prestige, and the quality of domestic industrial chemical products.

Speaking at the ceremony, Mr. Nguyen Huu Tu (CEO of Vinachem) emphasized that this signing is not only an economic milestone but also a concrete step in implementing the Comprehensive Cooperation Agreement between Vinachem and Petrovietnam. This aligns with Resolution 79/NQ-CP by strengthening links between State enterprises and ensuring national energy security.
Notably, the contract for 138,600 tons of Caustic Soda over three years, valued at approximately USD 45 million, carries strategic weight. By supplying a key national project, it secures a stable supply chain and drives economic growth. Mr. Tu also noted that the two sides could expand cooperation into other fields, including maintenance, operations, and technical support.

The Vinachem CEO further highlighted Vitrichem’s core role in the strategy to develop high-tech chemical products, such as pure and ultra-pure chemicals for the electronics and semiconductor industries, rare earth extraction technology research, and increasing the production capacity of acid and caustic soda products.

In his closing remarks, he reaffirmed Vinachem’s commitment to working with Petrovietnam to fulfill the "Vietnamese people prioritize Vietnamese goods" campaign. He urged Vitrichem to ensure absolute safety in production and transport, strictly adhering to delivery schedules for national key projects.

Mr. Le Xuan Huyen, Vice President in charge of Petrovietnam, expressed his delight at this new progress. He emphasized that signing a long-term, three-year contract is more than just a transaction; it is tangible proof of domestic capability and supply chain autonomy. This serves as a foundation for increasing the proportion of domestic supply in the future.

With a determination to achieve growth from the start of the year, Petrovietnam’s leadership expressed confidence that the partnership will become increasingly effective. This will contribute to the sustainable development of the national chemical and energy industries, elevating the position of Vietnamese enterprises and building a modern, self-reliant industry.

The ceremony concluded by reaffirming the determination of both groups to build a modern, sustainable petrochemical and chemical industry, enhancing domestic capacity and the standing of Vietnamese businesses in the international market.