$1.5 bln petrochemical complex in northern Vietnam receives technology transfer certificate
Quang Ninh authorities granted a polypropylene (PP) production technology transfer certificate to Vietnam's Stavian Quang Yen Petrochemical JSC on Friday to implement its $1.5 billion petrochemical project in the locality.
The certificate was granted to the company at Techconnect & Innovation Vietnam 2023.
The Stavian Quang Yen petrochemical project, a partnership between Hanoi-headquartered Stavian and Quang Ninh-based Yen Hung Liquid Port JSC (YHLP), will be built on 30 hectares at the Bac Tien Phong Industrial Park, Quang Ninh's Quang Yen town. YHLP will supply the facility with materials and other inputs.
The project is expected to supply 600,000 tons of polypropylene (PP), a type of polymer, every year. It is slated to start operations by the fourth quarter of 2026.
The investors said they had selected the most advanced technologies in polypropylene production (PP) to date, including PDH technology from American company Honeywell UOP and PP technology from Italy-based LyondellBasell, one of the world's largest plastics, chemicals, and refining companies.
Quang Ninh authorities grant a polypropylene production technology transfer certificate to Vietnam's Stavian Quang Yen Petrochemical JSC at Techconnect & Innovation Vietnam 2023 on September 30, 2023. Photo courtesy of the company.
The petrochemical facility would also use high-quality equipment from Europe and the G-7 countries to ensure environmentally friendly production and minimize greenhouse gas emissions.
In May, Maire Group of Italy was selected as a technical design consultant for the project. The front end engineering design (FEED) contract for the project will be conducted within 10 months by Tecnimont S.p.A, an Integrated E&C Solutions company under Maire Group.
According to Dinh Duc Thang, chairman and CEO of Stavian Quang Yen Petrochemical JSC, the Stavian Quang Yen petrochemical project is expected to attract more projects in downstream production, increase autonomy in raw material sources, and create a new wave of investment for sustainable, long-term socio-economic development for Quang Ninh province and neighboring localities.
It will contribute trillions of VND (VND1 trillion = $41.15 million) each year to the state budget and generate direct and indirect jobs for thousands of highly qualified technical workers, he added.
- Related News
- Read More
Southern Vietnan port establishes strategic partnership with Japan’s Port of Kobe
Long An International Port in Vietnam’s southern province of Tay Ninh and Japan’s Port of Kobe on Monday signed an MoU establishing a strategic port partnership which is expected to boost trade flows, cut logistics costs, and deliver greater benefits to businesses across the region.
Companies - Wed, November 19, 2025 | 10:14 am GMT+7
Thaco's agri arm seeks to expand $44 mln cattle project in central Vietnam
Truong Hai Agriculture JSC (Thaco Agri), the agriculture arm of conglomerate Thaco, looks to aggressively expand its flagship cattle farming project in the central Vietnam province of Gia Lai.
Industries - Wed, November 19, 2025 | 9:56 am GMT+7
Japan food major Acecook eyes new plant in southern Vietnam
Acecook, a leading instant noodle maker with 13 plants operating in Vietnam, is studying a new project in the southern province of Tay Ninh.
Industries - Wed, November 19, 2025 | 9:39 am GMT+7
Vietnam’s largest Aeon Mall to take shape in Dong Nai province
Authorities of Dong Nai province, a manufacturing hub in southern Vietnam, on Monday awarded an investment registration certificate to Japanese-invested Aeon Mall Vietnam Co., Ltd. for its Aeon Mall Bien Hoa project.
Industries - Tue, November 18, 2025 | 8:17 pm GMT+7
Police propose prosecuting Egroup CEO Nguyen Ngoc Thuy for fraud, bribery
Vietnam’s Ministry of Public Security has proposed prosecuting Nguyen Ngoc Thuy, chairman and CEO of Hanoi-based education group Egroup, along with 28 others, for fraud to appropriate property, giving bribes, and receiving bribes.
Society - Tue, November 18, 2025 | 4:01 pm GMT+7
Singapore-backed VSIP eyes large urban-industrial complex in southern Vietnam
A consortium involving VSIP, a joint venture between local developer Becamex IDC and Singapore’s Sembcorp, plans a large-scale urban-industrial development named the "Moc Bai Xuyen A complex along the Tay Ninh-Binh Duong economic corridor in southern Vietnam.
Industrial real estate - Tue, November 18, 2025 | 2:38 pm GMT+7
Aircraft maintenance giant Haeco to set up $360 mln complex in northern Vietnam
Hong Kong-based Haeco Group, Vietnam's Sun Group, and some other partners plan to invest $360 million in an aircraft maintenance, repair and overhaul (MRO) complex at Van Don International Airport in Quang Ninh province - home to UNESCO-recognized natural heritage site Ha Long Bay.
Industries - Tue, November 18, 2025 | 2:13 pm GMT+7
Thai firm opens 20,000-sqm shopping center in central Vietnam hub
MM Mega Market Vietnam (MMVN), a subsidiary of Thailand's TCC Group, on Monday opened its MM Supercenter Danang, a 20,000 sqm commercial complex with total investment capital of $20 million, in Danang city.
Real Estate - Tue, November 18, 2025 | 12:20 pm GMT+7
Vietnam PM asks Kuwait fund to expand investment in manufacturing, logistics, renewable energy
Prime Minister Pham Minh Chinh on Monday called on the Kuwait Fund for Arab Economic Development (KFAED) to strengthen cooperation with Vietnam, particularly in the areas of industrial production, logistics, renewable energy, green economy, and the Halal ecosystem.
Economy - Tue, November 18, 2025 | 11:53 am GMT+7
Thai dairy brand Betagen to build first plant in Vietnam
Betagen, a famous Thai dairy brand, plans to build its first manufacturing plant in Vietnam, located in the southern province of Dong Nai.
Industries - Tue, November 18, 2025 | 8:49 am GMT+7
Banks dominate Vietnam's Q3 earnings season, Novaland posts biggest loss
Banks accounted for more than half of the 20 most profitable listed companies in Vietnam’s Q3/2025 earnings season, while property developer Novaland recorded the largest loss.
Finance - Tue, November 18, 2025 | 8:24 am GMT+7
Highlands Coffee posts strongest quarterly earnings in 2 years on robust same-store sales
Highlands Coffee, Vietnam’s largest coffee chain, delivered its best quarterly performance in two years, with Q3 EBITDA exceeding PHP666 million ($11.27 million), parent company Jollibee Foods Corporation (JFC) said in its latest earnings report.
Companies - Mon, November 17, 2025 | 10:21 pm GMT+7
Hong Kong firm Dynamic Invest Group acquires 5% stake in Vingroup-backed VinEnergo
VinEnergo, an energy company backed by Vingroup chairman Pham Nhat Vuong, has added a new foreign shareholder after Hong Kong–based Dynamic Invest Group Ltd. acquired a 5% stake, according to a regulatory filing on Saturday.
Companies - Mon, November 17, 2025 | 9:52 pm GMT+7
Thai giant CP’s Q3 Vietnam revenue drops 20% as hog prices slump
Thailand’s Charoen Pokphand Foods PCL (CPF) reported a sharp downturn in its Vietnam business in Q3, making the country its only major market to contract.
Companies - Mon, November 17, 2025 | 4:16 pm GMT+7
Surging demand for gas turbines tightens supply chains, extends lead times: Siemens Energy
Demand for gas turbines is rising rapidly, especially in regions with a surge in data center development, tightening supply chains and extending lead times - factors that investors must closely track during project preparation, according to Siemens Energy.
Companies - Mon, November 17, 2025 | 1:34 pm GMT+7
Novaland completes first phase of restructuring, targets 'returning to growth' from 2027
Novaland, a leading real estate developer in Vietnam, said it has completed the first phase of its multi-year restructuring plan and aims to finish the entire program by end-2026, positioning the company to return to growth from 2027.
Companies - Mon, November 17, 2025 | 12:26 pm GMT+7
