Singapore's SP Chemicals Plans US$1.2Bln Petrochemical Plant in Vietnam
Singapore-based SP Chemicals has signed a memorandum of understanding with the Phu Yen Province government to build a US$1.2 billion petrochemical complex in the province.
The 300-ha plant, expected to be located in Hoa Tam commune, will annually manufacture 1.5 million tons of aniline, caustic soda, chlorine and chemicals. It will be Vietnam’s largest such plant.
The products, with applications in a range of industries like textiles, petrochemicals, paper, consumer goods, pharmaceuticals, and metallurgy, will be sold in Vietnam and exported to China.
The facility is likely to be ready in 2012, SP Chemicals CEO Chan Hiang Siang said.
The company will provide US$3 million to acquire land and pay compensation to residents. (Youth)
Vietnamese
