Đinh Đức Thắng, Chairman cum CEO of Stavian Quảng Yên Petrochemical Joint Stock Company, received technology transfer licenses under the witness of Deputy Prime Minister Trần Lưu Quang. — Photo courtesy of the firm

QUẢNG NINH — The Stavian Quảng Yên Petrochemical Plant Project officially received the technology transfer licences for petrochemical technology to produce polypropylene (PP) resins from the Quảng Ninh Department of Science and Technology at Techconnect and Innovation Việt Nam 2023, under the witness of Deputy Prime Minister Trần Lưu Quang.

Techconnect and Innovation Việt Nam 2023, with the theme “Innovation - Sustainable Development”, is a national-level event of significant importance, supporting businesses in the province to connect, transfer, and receive modern technologies to serve socio-economic development.

The Stavian Quảng Yên Petrochemical Plant is being built on an area of 30ha in Bắc Tiền Phong Industrial Park, Tiền Phong Commune, Quảng Yên Town, Quảng Ninh Province. The project has an estimated total investment of up to US$1.5 billion with a production scale of 600,000 tonnes of polypropylene per year, applying the world's most advanced copyrighted technologies from Honeywell UOP Company (USA) and Basell Poliolefine Italia Company (Italy). This includes propylene production technology from propane using the hydrogen reduction method and polypropylene production technology using Spheripol technology.

In addition to the cutting-edge technology, the Stavian Quảng Yên Petrochemical Plant will be equipped with a high-tech, automated, and eco-friendly production line imported from EU and G7 countries. They will apply more advanced solutions to optimise water use in production, ensuring energy savings and reducing greenhouse gas emissions.

Stavian Quảng Yên Petrochemical 2023 also officially announced the Front End Engineering Design (FEED) contractor for the Stavian Quảng Yên Petrochemical Plant Project. With the extremely promising potential for developing petrochemical production in Việt Nam, the project is expected to attract further projects in these industries.

This will increase autonomy in raw material sources, create a new wave of investment promoting sustainable and long-term socio-economic development in Quảng Ninh and neighbouring localities, contribute trillions of đồng per year to the State Budget, and create thousands of highly skilled jobs. — VNS