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FINANCIAL NEWS
Qatar Petroleum Intl, Petrovietnam to establish Vietnamese JV
17 Jan 2012
(MENAFN) Petrovietnam’s CEO, Do Van Hau, said that the company would establish a joint venture with Qatar Petroleum International (QPI) to build the Long Son petrochemical project, reported Arab News.
Hau added that the USD4 billion project would be Vietnam’s first fully integrated petrochemical project, comprising upstream, intermediate and downstream plants.
He also said that the Long Son refinery, part of the project, would be located 120 km southeast of Ho Chi Minh City, and would utilize Middle Eastern crude oil.
It is worth noting that the venture, of which QPI would own a 25 percent stake, would be made up of Petrovietnam, Vietnam’s Vinachem, SCG chemicals and Thai Plastics and Chemicals Co Pcl.
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