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Hyundai Engineering Wins $320M Order to Build Petrochemical Plant in Vietnam

Hyundai Engineering Company (HEC) has announced that it has won a $320-million contract from Long Son Petrochemical Co. Ltd. to build facilities at the Long Son petrochemical complex in southern Vietnam.

Under the deal, HEC will construct infrastructure, such as supportive boilers and water treatment facilities, to produce steam and industrial water for the complex in in Ba Ria - Vung Tau province, located some 100 kilometers southeast of Ho Chi Minh City.

The project is to be completed within 47 months after the groundbreaking, the date of which has yet to be set.

Long Son Petrochemical Co. Ltd., the owner of the $5.4-billion project, is a joint venture between Thai conglomerate Siam Cement Group (SCG) and Vietnam’s state-run energy giant PetroVietnam.

At a press meeting late last month, SCG's President and Chief Executive Officer Roongrote Rangsiyopash said the company will start construction work on the complex next year and the facility will start commercial operations by 2022.

The Thai conglomerate had finalized plans to build the complex, which is among the largest investments in ASEAN for SCG. 

Source: BizLIVE