Posco E&C wins new order for Vietnam petrochemical complex

By Lim Chang-won Posted : August 24, 2018, 13:36 Updated : August 24, 2018, 13:36

[POSCO E&C]


SEOUL -- Posco E&C, a construction affiliate of South Korea's top steelmaker, won a new deal worth 81.2 billion won ($72.1 million) to create and improve the ground for a petrochemical complex in southern Vietnam. Construction will be completed in September 2020.

The order was placed by Long Son Petrochemical, an affiliate of Thailand's Siam Cement Group (SCG), the inventor of a $5.4 billion petrochemical complex in the southern province of Ba Ria-Vung Tau. Earlier this year, Posco E&C secured a 750 billion won ($700 million) deal to build utility facilities, including 28 storage tanks, pipelines, and a port in the complex.

South Korean companies have been involved in the Long Son project. In February, SK Engineering & Construction teamed up with France's Technip to win a two billion US dollar order to build an ethylene plant in the Long Son project. SK E&C has completed Vietnam's biggest oil refinery in Nghi Son.

 
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