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POSCO E&C to Build Vietnamese Wharf Facility Worth $680 Million
Wharf Facility Construction in Vietnam
POSCO E&C to Build Vietnamese Wharf Facility Worth $680 Million
  • By Jung Min-hee
  • February 2, 2018, 02:30
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Han Chan-kun (center), president of POSCO E&C and Deb Bongbanichi (second from left), vice chairman of Longsong Petrochemicals are posing after signing an EPC deal in Ho Chi Minh City in Vietnam on Jan. 30.
Han Chan-kun (center), president of POSCO E&C and Deb Bongbanichi (second from left), vice chairman of Longsong Petrochemicals are posing after signing an EPC deal in Ho Chi Minh City in Vietnam on Jan. 30.

 

POSCO E&C announced on February 1 that the Korea-based global contractor signed a contract with Vietnam Long Son Petrochemical (LSP), a Vietnamese corporation of the Siam Cement Group, Thailand, for the construction of a wharf facility worth 750 billion won in Ho Chi Minh City, Vietnam.

The project which will build the first petrochemical complex in Vietnam will produce 1 million tons of ethylene and 1.2 million tons of petrochemical products on Long Son Island in Ba Ria-Vung Tau Province about 150 km southeast of Ho Chi Minh City in Vietnam. The project will cost about 5.7 trillion won (US$5.1 billion).

POSCO E&C will carry out work to build 28 petrochemical storage tanks with a total storage capacity of 300,000 tons at the petrochemical complex, raw material transfer pipelines, a quay for raw material products and marine facilities. The builder is aims at completing them in 2022.

This order is more meaningful in that POSCO E&C generated remarkable synergies in one year since POSCO E&C with rich experience in civil engineering work in Vietnam such as the Vung Tau Cai Mep International Port and a port exclusively for the Vung Tau Cold Rolling Mill merged with POSCO Engineering which had technological prowess in the petrochemical plant," POSCO E&C president Han said.