Gov’t highly values importance of Thai SCG’s petrochemical project in VN
VGP – Deputy Prime Minister Trinh Dinh Dung highly valued Thai SIAM Cement Group’s petrochemical plant project in the southern province of Ba Ria-Vung Tau, about 100km from Ho Chi Minh City.
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Deputy Prime Minister Trinh Dinh Dung (R) receives SCG President and CEO Roongrote Rangsiyopash at the Government Office in Ha Noi on October 24, 2019. Photo: VGP |
The SCG has completed around 24% of the workload, about 2% behind the planned roadmap, according to Roongrote.
The project has total investment capital of more than US$3.7 but the SCG is finalizing steps to increase the figure to US$5.2 billion, said Roongrote.
The SCG President and CEO pledged to put the plant into operation by the end of 2022.
This is the first integrated petrochemical plant in Viet Nam, with designed annual olefin production capacity of 1.6 million tons for production of high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE) and polypropylene (PP) to cope with annual demand of 2.3 million tons in Viet Nam.
About 70% of the raw materials will be gas, which will enable lower raw material costs than seen in most petrochemical plants in the region./.
By Huong Giang
