Written on 16.10.2013 - Industry
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VIETNAM: Long Son PC project plans progressing; financial Adviser is Sumitomo Mitsui

Project development is progressing for the Long Son petrochemical complex in Vietnam, according to press reports citing Siam Cement Group (SCG), a partner in the project.

The $4.5-billion complex will include a 1.4-million-t/y olefins cracker that will use ethane, propane and naphtha feedstock. It also involves downstream production of polyethylene, polypropylene and vinyl chloride monomer.

SCG President and Chief Executive Kan Trakulhoon said Sumitomo Mitsui Banking Corp. has been appointed financial adviser and, along with Bank of Tokyo-Mitsubishi UFJ and Japan Bank for International Cooperation, has committed to provide financial support.

The joint venture partners, SCG (46%), PetroVietnam (29%) and Qatar Petroleum International (25%) are in the process of selecting an engineering, procurement and construction management contractor for the project. SCG has invited companies to submit bids and expects a decision to be made within the next year.

Kan noted he is confident that construction will begin in 2015 and completion will be achieved in 2018.

Source: Weekly "PetroChemical News", Durham, NC, USA; 14 Oct 2013
(Syed Rashid Ali, Karachi, Pakistan)