PV Chem, Messer & Co. Establish Joint Venture Firm

JV PV Chem, Messer & Co. Establish Joint Venture Firm

2025-11-14 Source: Press release Messer 2 min Reading Time

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Under the joint venture firm, Cái Mép Industrial Gases Co., PV Chem and Messer & Co. will invest approximately 35 million dollars to develop an industrial gas production plant in the Cái Mép Industrial Park in Vitenam.

The joint venture will invest in the development of an industrial gas production plant in the Cái Mép Industrial Park, Cái Mép Ward, Ho Chi Minh City, with a capacity of 200,000 tons per year and a total investment of approximately 35 million dollars. (Source: Messer & Co.) — The joint venture will invest in the development of an industrial gas production plant in the Cái Mép Industrial Park, Cái Mép Ward, Ho Chi Minh City, with a capacity of 200,000 tons per year and a total investment of approximately 35 million dollars.
(Source: Messer & Co.)

Bad Soden/Germany – Petrovietnam Chemical and Services Corporation (PV Chem), a member of the Vietnam National Industry and Energy Group (Petrovietnam), and the German industrial gas specialist Messer & Co. have signed a joint venture agreement to establish Cái Mép Industrial Gases Co. The joint venture will invest in the development of an industrial gas production plant in the Cái Mép Industrial Park, Cái Mép Ward, Ho Chi Minh City, with a capacity of 200,000 tons per year and a total investment of approximately 35 million dollars. Construction is scheduled to begin at the end of 2026, with commercial operation planned for the end of 2028.

The plant in Cái Mép was designed in accordance with green and circular economy models and utilizes cooling energy from PV Gas's liquefied natural gas (LNG) storage system to deep-freeze the gas separation process. The plant is intended to strategically close Petrovietnam's value chain for LNG, industrial gases, and clean energy. It is expected to improve energy efficiency, reduce greenhouse gas emissions, and contribute to the optimized use of existing gas infrastructure.

The project utilizes European Cryogenic Air Separation (CAS) technology in combination with the recovery of cooling energy generated during the LNG regasification process. This technology significantly reduces electricity and cooling water consumption, thereby lowering indirect greenhouse gas emissions and improving the overall environmental footprint.

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This is not only considered a pioneering project in the areas of energy transition, green economy and circular economy, linking the value chain of Petrovietnam and being implemented by PV Chem to contribute to the national energy strategy, but also a pioneering project for industrial gas specialist Messer, underlining its strong commitment to the transition to green production by reducing greenhouse gas emissions and saving energy in terms of electricity and water.

Le Manh Hung, Chairman of Petrovietnam, emphasized: “The joint venture project between Messer and PV Chem is a concrete step towards implementing Petrovietnam’s green energy and circular economy strategy, which is in line with Vietnam’s carbon neutrality goals.”

Bernd Eulitz, CEO of Messer & Co., stated: “Messer is proud to be realizing its world’s first air separation technology with cold energy recovery together with PV Chem and Petrovietnam – an innovation that optimizes energy efficiency and fully complies with European environmental standards.”

Stefan Messer, Chairman of the Supervisory Board of Messer & Co., added: “This is an exciting opportunity for Vietnamese industry to reduce its greenhouse gas emissions through the use of low-carbon industrial gases, which are essential for many economic and medical sectors.”

Truong Dai Nghia, Chairman of PV Chem, stated: “The joint venture with Messer is a strategic step for PV Chem to expand into environmentally friendly manufacturing, improve internal connections within Petrovietnam and promote sustainable value chains.”

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JV PV Chem, Messer & Co. Establish Joint Venture Firm

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