PetroVietnam to hold talks with Thai partners for US$2 bln petrochem complex

Vietnam's state-run oil and gas giant PetroVietnam is to hold talks next month with a local firm and two Thai partners for construction of a US$2 bln petrochemical complex in South Vietnam. PetroVietnam, Vietnam Chemicals Corporation, and Thailand's Siam Cement Group and Thai Plastic and Chemicals had signed an agreement last year to develop the project, estimated to have It will have an annual capacity of 345,000 tons of vinyl chloride monomer, 300,000 tons of ethylene dichloride, and 250,000 tons of chlor alkali. Siam Group, which has interests in chemicals, paper, cement, and building materials, was doing a feasibility study for the complex to come up in the Phu My II Industrial Park in Ba Ria - Vung Tau province, southeast of Ho Chi Minh City. Work on the project is scheduled to begin in Q4-07 and be completed by end-2011.
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