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VietNamNews

Work on $4b petrochemical project to start

Update: April, 12/2012 - 10:14

HA NOI — Construction of a US$4 billion petrochemical complex is set to start soon in the southern province of Ba Ria -Vung Tau, following recent guidance from Deputy Prime Minister Hoang Trung Hai.

Licensed in July 2008, the Southern Petrochemical Complex is key to the future of Viet Nam's petroleum industry along with the Dung Quat, Nghi Son and Long Son oil refineries.

In his dispatch, Hai instructed the Ministry of Transport, Ba Ria- Vung Tau People's Committee and PetroVietnam to prepare and approve a ground clearance plan for the project as scheduled.

He also asked these agencies and the project investor to agree on the amount of funding for construction of resettlement areas and roads to Long Son Industrial Zone.

Covering 400ha in the Long Son Industrial Zone, the complex is designed to churn out over 3 million tonnes each year.

Once operational, it is expected to meet 65 per cent of the country's demand for polyetylen and polypropylene, contributing to a stable supply of input materials for the petrochemical industry. — VNS

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