1.5 billion USD to invest in Stavian Quang Yen petrochemical plant project

Friday, 29/07/2022 01:00
Stavian Quang Yen petrochemical plant project has successfully attracted investment capital of 1.5 billion USD, said Mr. Pham Tan Cong, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), in a recent conference held to promote investment in the northern province of Quang Ninh.
The signing ceremony  to granted the investment registration certificate  for the project

Mr. Nguyen Duc Ha, General Director of Stavian Quang Yen Petrochemical Joint Stock Company, the investor of the above project, said that as soon as the company was granted an investment registration certificate by the Authority of the Quang Ninh provincial Economic Zone, the project began construction on an area of 30 hectares in Bac Tien Phong industrial park, Tien Phong commune, Quang Yen town.

Currently, the project has an estimated investment of 1.5 billion USD with a production scale of 600,000 tons of polypropylene a year.

The project uses PDH technology from Honeywell UOP (USA) and PP technology from LyondellBasell (Italy). It also uses high-quality equipment from EU and G7 countries with a closed, automated, environmentally friendly technological process and reduction in greenhouse gas emissions.

The authority estimates that during commercial operation, scheduled from the third quarter of 2026, Stavian Quang Yen will bring great contributions to the economic development of Quang Ninh in particular and Vietnam in general. /.