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  • Written on 15.02.2012 - Industry
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VIETNAM: Partners sign joint venture agreement for Long Son PC complex

PetroVietnam, Vinachem, Qatar Petroleum International, Siam Cement Group (SCG) and Thai Plastic and Chemicals have signed a joint venture agreement to invest in a petrochemical complex on Vietnam’s Long Son Island.

The $4.5-billion project, which will be adjacent to a future refinery, consists of a 1.4-million-t/y flexible olefins cracker that will use ethane, propane and naphtha feed-stock.  It also includes downstream units for polyethylene, polypropylene and vinyl chloride monomer.  

A final investment decision is anticipated in 2013, and commercial operations are expected four or five years after groundbreaking, said SCG, adding that the majority of the production will be used domestically.

In addition, Qatar International Petroleum Marketing, the exclusive marketer of regulated products from Qatar, signed a long-term agreement to supply propane and naphtha feedstock to the cracker.  At the same time, PetroVietnam’s PV Gas subsidiary signed a memorandum of
understanding for the supply of ethane.

Source: Weekly "PetroChemical News", Durham, NC, USA; 13 Feb 2012

(Syed Rashid Ali, Karachi, Pakistan)


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