VietNamNet Bridge – Thailand's PTT energy conglomerate will invest 20 billion USD in a Vietnamese petrochemical complex that aims to meet local and overseas demand in seven years, according to MCOT news online.

Illustrative image. – File photo

The company will present its study on the proposed complex to the Vietnamese government in the near future, PTT's chief operating officer for downstream petroleum products Saran Rangkasiri was quoted by the media as saying.

Accordingly, the complex will be built in the central province of Binh Dinh, near Quy Nhon City. It is designed to refine 400,000 barrels of oil per day and produce about 5 million tonnes of aromatics and olefins per year.

PTT will hold a 40 percent stake in the complex while its partners, 40 percent and Vietnam, 20 percent.

The complex will refine imported crude oil and manufacture comprehensive petrochemical products. Half of its products will be sold in the domestic market, where there is still an insufficient supply of oil and plastic pellets, and the remainder will be exported.

Source: Vietnam Plus