HCMC - Vietnam National Chemical Group, or Vinachem, on Tuesday clinched a Memorandum of Understanding (MOU) with Unilever Vietnam to supply the latter with chemicals and to jointly develop petrochemical projects.
Unilever Vietnam and Vinachem will work on construction of new base chemicals plants and development of the petrochemical industry.
As a result, key raw materials will be produced and sourced within Vietnam to help the country reduce reliance on imports, increase exports, and enhance cost competitiveness of both parties.
This agreement signed in Hanoi is expected to generate annual total sales of US$200-250 million a year for locally-supplied and exported materials.
Unilever said in a statement obtained by the Daily on Wednesday that it now bought a number of key materials from Vinachem and its affiliates. But, the company still has to annually import over US$100 million worth of important materials for its production in this country.
To cut reliance on imports, Unilever will cooperate with Vinachem and its affiliates to develop and turn out materials including lab, sodium sulphate, soda ash light, sorbitol and zeolite. They shall establish manufacturing and supplying plants subject to competitive terms and actual demand in the future.
Besides the need for procuring key materials to replace imports, Unilever will explore opportunities for Vinachem to export these materials to other Unilever Group’s companies in ASEAN, Asia and to Unilever globally. The export will depend on competitive terms, actual demand and quality requirements of those companies.
Unilever and Vinachem will consider their cooperation expansion to cover other key materials based on the successful sourcing/supplying of the aforesaid initial materials when opportunities arise.
The partnership marked development in the original MOU and the long-term strategic cooperation agreement that the two parties signed in 2007 and 2009 respectively.
No comments:
Post a Comment