STAVIAN QUANG YEN PETROCHEMICAL
MoU for PP mega project in Vietnam / USD 1.5 bn investment
 Signing of the memorandum of understanding in Vietnam (Photo: Stavian) |
Together with the provincial government of Quang Ninh and management of the Bac Tien Phong industrial zone, Vietnamese multi-industry and multinational group Stavian (Hanoi; www.stavian.vn) has signed a memorandum of understanding (MoU) to build a USD 1.5 bn (EUR 1.47 bn) PP plant.
The new 600,000 t/y facility that would be operated under the name Stavian Quang Yen Petrochemical – a joint venture of Stavian Chemical and Yen Hung Liquid Port – is expected to start up by 2026 in the industrial zone located in north-eastern Vietnam, near the Chinese border.
A propane dehydrogenation (PDH) unit that presumably would have the same capacity is planned to be part of the project. The PDH technology will be supplied by Honeywell UOP, and the PP licence from LyondellBasell. Stavian boasts also that the facility will use high-quality equipment made in the EU and G7 countries with a closed, automated, environmentally friendly technology process that will reduce greenhouse gas emissions.
As a plastics producer, the privately held company operates plants in the Hung Yen and Hai Duong provinces in northern Vietnam, with a portfolio encompassing mainly standard thermoplastics in addition to a limited number of engineering grades.
Stavian is also regarded as Vietnam’s largest plastics distributor, a business that up to mid-2021 operated under the name Opec Plastics. Besides having a significant position in Southeast Asia generally, the company also has offices in the US, Russia, China, India, South Korea, Singapore, Indonesia, and the Philippines.
Over the period from 2023 to 2026, Vietnam will see a considerable build-up of polyolefin capacity. Including the Stavian project, altogether 1.4 mn t/y of polypropylene and 900,000 t/y of polyethylene is on the drawing boards. Currently, Plasteurope.com’s Polyglobe database (www.polyglobe.net) shows that the country has capacity for more than 1.1 mn t/y of PP, with most of it located near Ho Chi Minh City in the south, but no PE capacity. If all of the projects announced to date are realised to the full extent, Vietnam’s PP output capability stands to more than double.
The new 600,000 t/y facility that would be operated under the name Stavian Quang Yen Petrochemical – a joint venture of Stavian Chemical and Yen Hung Liquid Port – is expected to start up by 2026 in the industrial zone located in north-eastern Vietnam, near the Chinese border.
A propane dehydrogenation (PDH) unit that presumably would have the same capacity is planned to be part of the project. The PDH technology will be supplied by Honeywell UOP, and the PP licence from LyondellBasell. Stavian boasts also that the facility will use high-quality equipment made in the EU and G7 countries with a closed, automated, environmentally friendly technology process that will reduce greenhouse gas emissions.
As a plastics producer, the privately held company operates plants in the Hung Yen and Hai Duong provinces in northern Vietnam, with a portfolio encompassing mainly standard thermoplastics in addition to a limited number of engineering grades.
Stavian is also regarded as Vietnam’s largest plastics distributor, a business that up to mid-2021 operated under the name Opec Plastics. Besides having a significant position in Southeast Asia generally, the company also has offices in the US, Russia, China, India, South Korea, Singapore, Indonesia, and the Philippines.
Over the period from 2023 to 2026, Vietnam will see a considerable build-up of polyolefin capacity. Including the Stavian project, altogether 1.4 mn t/y of polypropylene and 900,000 t/y of polyethylene is on the drawing boards. Currently, Plasteurope.com’s Polyglobe database (www.polyglobe.net) shows that the country has capacity for more than 1.1 mn t/y of PP, with most of it located near Ho Chi Minh City in the south, but no PE capacity. If all of the projects announced to date are realised to the full extent, Vietnam’s PP output capability stands to more than double.
22.08.2022 Plasteurope.com [250963-0]
Published on 22.08.2022
German version of this article...