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PetroVietnam buys Vinachem's stake in Long Son Petrochemicals

by ChemOrbis Editorial Team -
  • 19/11/2014 (15:19)
State-owned PetroVietnam bought the 11% stake of another state-owned company, Vietnam National Chemical Group (Vinachem) in the Long Son Petrochemical Company, according to market sources. The company’s share increased to 29% from 18% in the joint venture. Other stakeholders include Thailand’s Siam Cement Group (28%), Qatar Petroleum International (25%) and Thai Plastic and Chemicals (18%).

Long Son’s proposed $4.6 billion petrochemical complex project is now at the stage of preparation and it is expected to be online in the second quarter of 2019. The Long Son complex will house a 1.4 million tons/year steam cracker with downstream PE, PP and VCM units. Most of its output is planned to be sold in the domestic market.
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