SK and Posco construction arms tapped into Vietnam's petrochemical project

Lim Chang-won Reporter Posted : 2018-02-01 11:29 Updated : 2018-02-13 15:50
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[Courtesy of SK E&C]

SEOUL, Feb. 01 (Aju News) -- SK Engineering & Construction Co. has teamed up with France's Technip to win a two billion US dollar order to build an ethylene plant in a Long Son petrochemical project in southern Vietnam, the South Korean company said Thursday.

SK E&C said 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. SK E&C and Technip would equally share the deal that requires constriction for 53 months.

SK E&C has completed Vietnam's biggest oil refinery in Nghi Son.

Posco E&C, a construction affiliate of South Korea's leading steelmaker POSCO, has secured a separate deal worth 750 billion won ($700 million) to build utility facilities, including 28 storage tanks, pipelines, and a port in the complex. Vietnam hopes to complete the petrochemical complex in 2020.