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Quang Ninh to have a $1.5bln petrochemical plant

Dai Le Friday | 07/29/2022 13:36

Illustrative. photo:vietnamfinance.vn

Stavian Quang Yen petrochemical plant with a total investment of about $1.5 billion will be built on an area of 30 hectares in Quang Yen town, Quang Ninh province.

Quang Ninh Provincial People's Committee has signed a memorandum of understanding for the Stavian petrochemical plant project worth $1.5 billion in Quang Yen town.

It will be built on an area of 30ha in an industrial zone, Bac Tien Phong industrial zone. The plant's commercial operation is expected in the fourth quarter of 2026.

Stavian Quang Yen petrochemical plant project has an estimated total investment of up to $1.5 billion with a production scale of 600,000 tons of Polypropylene/year.

Stavian Quang Yen Petrochemical Factory is a joint venture between Stavian Chemical and Yen Hung Liquid Port Joint Stock Company (YHLP).

The project will be started construction immediately after receiving the investment certificate. The company was established by 2 main shareholders, Stavrian Chemical Joint Stock Co (Stavyan Chemical) and YHLP.

Source: VietnamFinance

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