World Steel Construction Joint Stock Company and Tan Phuoc Thinh Construction and Investment JSC signed a contract of cooperation on September 29 in Vung Tau.
The deal involves cooperation in design, production, and construction for H&I-8 of Long Son Petrochemicals Complex.
Long Son Petrochemicals Complex (Long Son Petrochemicals - LSP) is invested by Thailand's SCG Group with a total registered capital of about $5.4 billion, located in Long Son District, Ba Ria - Vung Tau Province. It is considered the first petrochemicals complex in Vietnam with a capacity of up to 1.6 million tons a year, capable of replacing imported polyolefins.
Accordingly, Long Son Petrochemicals Complex, to cover 56,000 square meters and valued at up to $10 million, will be designed and constructed by World Steel Group.
Pham Van Triem, chairman of Tan Phuoc Thinh Investment and Construction Joint Stock Company, said after evaluating leading steel manufacturers in Vietnam, the company chose World Steel Group.
World Steel Group specializes in providing package solutions in the fields of pre-engineered steel buildings for industrial use from design, production and construction installation. It is involved in Hoa Phat Iron and Steel Complex, CPV Food, GPPD - Binh Phuoc Becamex energy battery manufacturing factory, Tongwei Group's projects in Tien Giang and Hai Duong, as well as Thailand's 7-Eleven, the Philippines' Coca Cola warehouse, and exports to the U.S. market.
The company is the first in Vietnam and Asia honored with a IAS AC472 Quality Certificate for the steel structure sector. The prestigious certificate is recognized by American Metal Building Manufacturers Association (MBMA) and ICC, and is the standard metric for companies that design and manufacture pre-engineered steel structures and steel building systems for the U.S.
Southern Petrochemicals Complex (in Long Son Commune, Vung Tau) will greatly boost economic development in Ba Ria - Vung Tau Province, and is expected to complete in 2022. When operational, the project would attract new investment trends in the post-petrochemicals sector. With a total investment of $5.4 billion, the complex will employ about 1,000 skilled workers and contribute about $60 million a year to the province's budget.