Nghi Son Petrochemical Refinery eyes PP, PX units in Vietnam

05 April 2011 10:42  [Source: ICIS news]

DUBAI (ICIS)--Nghi Son Petrochemical Refinery is seeking government approval to build downstream polypropylene (PP) and paraxylene (PX) plants in Vietnam, a source privy to the project said on Tuesday.

“Hopefully by this week, we can gain approval from the PP and PX units from the Vietnamese government.  Soon, construction will begin,” the source said at the sidelines of the 2nd GPCA (Gulf Petrochemicals & Chemicals Association) Plastics Summit in Dubai.

The capacities of the proposed downstream plants could still change, he said.

“The PP produced will prioritise the local market, but depending on the trade situation, we may see export opportunities in the vicinity,” the source said.

Nghi Son Petrochemical Refinery is a joint venture established in April 2008 between state-owned Vietnam National Oil and Gas Group (25.1%), Kuwait Petroleum International (35.1%), and Japanese companies Idemitsu Kosan Corp (35.1%) and Mitsui Chemicals Inc (4.7%).

Meanwhile, government approval for building a 200,000 bbl/day refinery at the site in Nghi Son economic zone in Thanh Hoa province had been secured, the source said.

“It will take about 42 months from now [when] we expect the refinery and the two downstreams to be up and running,” said the source.

The GPCA Plastics Summit runs from 4-6 April.

By: Ong Sheau Ling
+65 6780 4359

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