Hyundai Engineering wins $320 million contract at Long Son petrochemical complex

August 09, 2017 | 08:36

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Hyundai Engineering Co., Ltd. announced that it has won a contract worth $320 million to build facilities at Long Son petrochemical complex in the southern province of Ba Ria-Vung Tau, taking the project closer to implementation.

Hyundai Engineering's project will bring Long Son petrochemical closer to fruition

According to newswire Oilandgasvision, under the deal, the builder will construct infrastructure, such as supportive boilers and water treatment facilities, to produce steam and industrial water for the complex.

Industrial water and steam produced at the water treatment facilities and supportive boilers will be supplied to the petrochemical complex according to need. It is the core project to help plants at the complex to operate smoothly.

It is not the first project of Hyundai Engineering in Vietnam. Previously, Hyundai Engineering took part in designing Mong Duong coal-fired thermal power plant in the northern province of Quang Ninh. It was the company’s second turnkey power plant construction contract won in Vietnam after the project to expand a thermal power complex in the southern province of Ba Ria-Vung Tau in 1999.

Regarding Long Son petrochemical complex, the project now has a total investment capital sum of $5.4 billion, up 20 per cent from its initial plan of $4.5 billion, due to rising construction costs. About 30 per cent of the total investment will be used for the development of a deep sea port and other facilities to support the petrochemical plant.

It will be installed with advanced technology, meeting environmental protection requirements and ensuring the production of high-quality products, such as PP and PE. The project will create about 15,000-20,000 jobs during its construction and over 1,000 jobs when put into commercial operation in the first half of 2022 as expected.

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