POSCO E&C wins 750 bln-won petrochemical complex deal in Vietnam

SEOUL, :POSCO Engineering & Construction Co. said Thursday it has received a 750 billion-won (US$700 million) order to build a petrochemical complex in Vietnam.

In Ho Chi Minh City on Tuesday, POSCO E&C signed the deal with Long Son Petrochemical, a Vietnam-based affiliate of Thailand's industrial conglomerate Siam Cement Group, to build a petrochemical complex in the southern province of Ba Ria-Vung Tau by 2022, the company said in a statement.

POSCO E&C will build 28 petrochemical materials storage tanks with a combined capacity of 300,000 tons inside the complex, pipelines to transport the materials and a port to deliver them to ships, it said.

POSCO E&C is a construction affiliate of South Korea's leading steelmaker POSCO.

Separately, South Korean construction firm SK Engineering & Construction Co. said it and its partner, French engineering company Technip, will build an ethylene plant in the same petrochemical complex in Vietnam.

SK E&C said it and the French firm own stakes in the $2 billion project.

Source: Yonhap News Agency

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