Construction of the southern petrochemical complex at the Long Son Oil and Gas Industrial Zone in Vietnam's southern Ba Ria-Vung Tau province will start on September 25.
According to the Vietnam National Oil and Gas Group (PVN), the Prime Minister has given the greenlight to the projects ground-breaking and other work.
The project, estimated to cost almost US$4 billion, will be capable of turning out 3 million tonnes of products a year. It will be the largest complex of its kind in the country.
It is a joint venture of PVN, Vietnam National Chemical Corporation, Vina SCG Chemicals, and the Thai Plastic and Chemicals.
The complex is expected to operational in late 2012 to supply petrochemical products including HDPE, LDPE, PE, PP and PVC to the Vietnamese market, meeting about 65 percent of the country's demands for PE and PP in 2017 and ensuring the input materials for the petrochemical industry.
PVN also said that the project will create about 10,000 jobs.
(C) 2008 Asia Pulse Pte Ltd.