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Thai company to invest in Vietnam petrochemical complex

Thailand's PTT energy conglomerate will invest 20 billion USD in a Vietnamese petrochemical complex that aims to meet local and overseas demand in seven years, according to MCOT news online.

Thailand's PTT energy conglomerate will invest 20 billion USD in aVietnamese petrochemical complex that aims to meet local and overseasdemand in seven years, according to MCOT news online.

The company will present its study on the proposed complex to theVietnamese government in the near future, PTT's chief operating officerfor downstream petroleum products Saran Rangkasiri was quoted by themedia as saying.

Accordingly, the complex will bebuilt in the central province of Binh Dinh , near Quy Nhon city.It is designed to refine 400,000 barrels of oil per day and produceabout 5 million tonnes of aromatics and olefins per year.

PTT will hold a 40 percent stake in the complex while its partners, 40 percent and Vietnam , 20 percent.

Thecomplex will refine imported crude oil and manufacture comprehensivepetrochemical products. Half of its products will be sold in thedomestic market, where there is still an insufficient supply of oil andplastic pellets, and the remainder will be exported.-VNA

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