Business

Hyosung Group granted investment certificate for $1.2 billion complex in Vietnam

South Korea’s Hyosung Group was allowed to invest a $1.2 billion potrochemical plant at Cai Mep Industrial Park in Ba Ria- Vung Tau province.

The 60ha complex built for making polypropylene (PP) from liquefied petroleum gas (LPG) includes two units.

The group will construct a LPG storage facility with capacity of 240,000 tons and Polypropylene plant with products such as Ethylene with annual output of 55,000 tons, propylene with output of 600,000 tons, polypropylene in the forms of Homo and Co with 600,000 tons and Hydrogen with 20,000 tons a year as well as other by-products.

The complex is scheduled to operate in 2020. It is expected to contribute about $80 million annually to the state budget and offer 600 jobs to skilled laborers.


By NONG NGAN – Translated by ANH QUAN

Other news