Singapore invests in Phu Yen’s petrochemical industry

08/09/2007 -- 10:29 PM

Phu Yen (VNA) – Singapore’s SP Chemicals Ltd. Co. plans to invest 11 billion USD in a project to build the Hoa Tam Petrochemical Industrial Zone and the Naphtha Cracking Phu Yen Petrochemical Complex in southern Phu Yen province. The project, the largest so far in Phu Yen, will set aside 1.5 billion USD for the first stage from now to 2014 to build infrastructure for the Hoa Tam IZ, a specialised port able to receive 250,000 DWT ships, and a petrochemical complex of 11 plants with a capacity of 800,000 tonnes of ethylene per year. In the following decade, the investor will add 3.5 billion USD and its partners contribute another 6 billion USD to other projects. Some 1,300 ha of land have been allocated for the project for a duration of 70 years. The Singaporean investor pledged to provide 5 million USD to help Phu Yen province build a residential resettlement areas for inhabitants of Hoa Tam commune, where the IZ will be located.-Enditem
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