Xuan Thien Group plans petrochemical complex project in northern Vietnam

Private multi-sector corporation Xuan Thien Group has proposed to conduct a survey for a refinery and petrochemical complex investment in Ninh Binh province.

Under a proposal sent to the provincial People’s Committee on January 30, the complex will cover 2,500 hectares, including 1,500 hectares of land and 1,000 hectares of water, in the coastal district of Kim Son.

It is expected to produce three million tons of products per year from 2025-2030, which will then be raised to six million tons in the 2030-2035 phase and nine million tons from 2035-2040.

Xuan Thien Group, owned by entrepreneur Nguyen Van Thien, said it is constructing a 9.5-million-ton green steel complex in neighboring Nam Dinh province, including a deep-water seaport that accommodates vessels of over 300,000DWT.

The plant will apply the world's most advanced green steel production technology, and need liquified petroleum gas (LPG), liquefied natural gas (LNG) and hydrogen to replace coke, thus reducing CO2 emissions.

A refinery and petrochemical complex will help provide LPG for the Nam Dinh green steel plant, meeting the domestic demand for gasoline and exports, according to the group.

“Investment in the Kim Son refinery and petrochemical complex is in line with government policy and will meet current and future market demands,” it noted.

The group also committed a budget of VND300 billion ($12.72 million) for the project survey. “There will not be any complaints in case the project is not approved,” it wrote.

The Ninh Binh People's Committee said it had assigned relevant units to appraise Xuan Thien Group’s proposal.

Xuan Thien Group is currently investing in and operating energy projects with a total capacity of more than 2,000 megawatts; cement projects with a combined capacity of nearly 30 million tons per year; and high-tech agriculture projects in the north-central province of Thanh Hoa and the Central Highlands province of Dak Lak. It is also involved hospitality, real estate, logistics, education and training.

On November 14, 2022, the group began construction of a VND900 billion ($36.34 million) prefabricated concrete factory as the first part of the VND98,900 billion ($4 billion) green steel complex in Nam Dinh.

The 56.8-hectare factory, named Xuan Thien Nam Dinh and located in Nghia Hung district, will have an annual capacity of 350,000 tons. Construction is set to be completed in the fourth quarter of 2024 and operations will begin in the first quarter of 2025.

The two other parts of the steel complex are the 83.93-hectare, VND10 trillion ($403.7 million) Xuan Thien Nghia Hung steel factory with an annual capacity of two million tons; and the 248.97-hectare, VND88 trillion Xuan Thien Nam Dinh No. 1 steel factory with an annual capacity of 7.5 million tons.