Singapore's Firm to Build Petrochemical Complex in Vietnam
Singapore’s SP Chemicals has obtained the go-ahead from the Vietnamese government to build a petrochemical facility and an industrial park in Vietnam’s central Phu Yen province.
SP Chemicals plans to invest US$1.2 billion to develop the Naphtha Cracking petrochemical complex on a 500-ha site in Hoa Tam commune.
The company expects to manufacture 1.5 million tons of aniline, caustic soda, chlorine, and other chemicals per annum. The plant is expected to start operations in 2012.
The outputs, which are used in a wide range of industries like textile, paper, pharmaceutical, metallurgy and consumer goods, will be exported to China, Japan and South Korea.
Along with the petrochemical facility, SP will develop a 1,300-ha industrial complex to house other petrochemical projects in the same ward.
However, no detail about the project like investment capital is made available.
The government has instructed provincial authorities to support SP chemicals in completing formalities to obtain its investment license.
The factory and petrochemical IP will be the largest such project in Vietnam and would more than likely help the province attract other foreign investments. (Thanh Nien Online, VNA)
Vietnamese
