Vietnam: Petrochemicals Joint Venture to Build Vietnam's First Petrochemical Complex
Deal Street Asia reports that a joint venture between Siam Cement and Petro Vietnam plans to invest $ 5.6 billion in Vietnam’s first petrochemical complex.
Ho Chi Minh City/Vietnam — The project will be located approx. 100 km from the country's capital Ho Chi Minh City and will comprise a one-million-tonne ethylene cracker with a maximum annual capacity of 1.6 million tonnes of olefins. The project is to reduce the country's dependence on imports of refined products.
About 30 % of total investment will be used for the development of a deep sea port and other facilities to support the petrochemical plant. According to Deal Street Asia, construction is set to start next year and commence operation in the first half of 2022.