- ABOUT US
- CONTACT US
Korea’s leading textile and chemical firm Hyosung Corp. will construct natural gas-fueled polypropylene (PP) manufacturing and liquefied petroleum gas (LPG) storage infrastructure in Vietnam at a cost of $1.2 billion, a move that would sharply ramp up its production capacity in the widely applied versatile plastic.
The company signed with Vietnam’s government to invest $1.2 billion to create a manufacturing and storage complex in Cai Mep Industrial Zone in Tan Thanh District, Ba Ria-Vung Tau Province.
Located at the Cai Mep Industrial Zone in the district of Tan Thanh district, Ba Ria-Vung Tau province, the complex will comprise a PDH unit, two PP plants, an LPG storage tank and a warehouse for both LPG and petrochemical products.
Hyosung is counting on PP as its new revenue source. PP is a thermoplastic polymer used in a wide variety of applications including packaging and labeling, textiles, stationery, plastic parts and reusable containers of various types, laboratory equipment, loudspeakers, automotive components, and polymer banknotes. The firm also plans to build an additional PP plant with annual production capacity of 200,000 tonnes at around 140 billion won ($122.2 million) in Korea.
KOVIS E&C has been awarded Chemical Injection Package to provide for HSVC OL1 Project.
Contractor: eTec E&C Limited.
Quantity: 12 packages.
Kovis has delivered all packages to Cai Mep Site in the end October.
Project is completed as schedule.
Construction Site Pictures: