According to Reuters article published on May 18, 2023, Vietnam’s Stavian Quang Yen Petrochemical JSC said on Thursday it had awarded a contract to design a $1.5 billion polypropylene plant in the country to Italian engineering group Maire Tecnimont.
The 10-month Front End Engineering Design contract signed on the same day in Hanoi was for the development of the plant to be built in the northern province of Quang Ninh, Stavian said in a statement.
Stavian said earlier the plant would start commercial operations from the fourth quarter of 2026 and would produce 600,000 tonnes of polypropylene annually to supply manufacturers of home appliances, automobiles, electronics and medical equipment.
Vietnam’s demand for plastic raw materials, estimated at eight million tonnes last year, is forecast to increase 6.6% a year from now through 2025, Stavian chairman Dinh Duc Thang said.
“Domestic supply is limited, leaving significant room for development,” Thang said in the statement.
