Venezuela Expects to Hold 30% Stake in Petrochemical Complex in Vietnam
Venezuela’s state oil company Petróleos de Venezuela SA (PDVSA) has advanced its interest to hold a 30% stake in the US$3.77-billion Long Son petrochemical complex in Vietnam’s southern province of Ba Ria-Vung Tau, said Eulogio Del Pino, PDVSA’s vice president.
A consortium of the state-run Vietnam Oil and Gas Group (PetroVietnam), Vietnam National Chemical Corp (Vinachem), and two Thai partners - Vina SCG Chemicals and Thai Plastics and Chemicals companies – started construction of the complex last September.
The complex will occupy a 400-hectare area in Long Son petroleum industrial park in Long Son commune, Vung Tau city.
The complex is expected to produce 1.45 million tons of polyetylen (PE) and polypropylene (PP); 730,000 tons of chemical materials for production of polyvinyl clorua (PVC); and 840,000 tons of other basic chemicals annually once operational in 2013. (News)
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