Stavian Quang Yen to build $1.5 bln petrochemical factory in Quang Ninh

Stavian Quang Yen Petrochemical Joint Stock Company, Quang Ninh Provincial People’s Committee and Bac Tien Phong Industrial Zone Joint Stock Company recently signed a memorandum of understanding (MoU) to officially launch the Stavian Quang Yen petrochemical factory project.

The signing ceremony took place within the framework of Quang Ninh Investment Promotion Conference 2022, co-organized by the Quang Ninh Promotion and Investment Assistance Board and Vietnam Chamber of Commerce and Industry (VCCI). The conference offered opportunities to promote the business investment environment, potential and strengths of Quang Ninh Province to large financial and industrial corporations in the APEC region and significant FDI enterprises in Vietnam.

Nguyen Duc Ha (R), General Director of Stavian Quang Yen Petrochemical Joint Stock Company, signs the MoU with provincial authorities. Photo by Stavian Quang Yen

Stavian Quang Yen Petrochemical Plant will be built on an area of 30 hectares in Bac Tien Phong Industrial Zone at Tien Phong Commune, Quang Yen Town, Quang Ninh Province. The project has an estimated total investment of up to $1.5 billion with a production scale of 600,000 tons of Polypropylene per year.

The investors said they would select advanced copyright technologies in the field of Polypropylene production including technology PDH from Honeywell UOP (U.S.) and PP technology from LyondellBasell (Italy). In addition, the project would use high-quality equipment originating from EU and G7 countries with a closed, automated, environmentally friendly technology process that reduces greenhouse gas emissions.

Currently, the Economic Zone Authority of Quang Ninh Province is reviewing and approving the investment registration certificate for Stavian Quang Yen Petrochemical Joint Stock Company. It’s estimated that in the period of commercial operation (expected in the fourth quarter 2026), Stavian Quang Yen Petrochemical Factory would provide great contributions to the socio-economic development of Quang Ninh Province in particular and Vietnam in general. Operation of the factory would attract and motivate investors in the manufacturing sector to invest locally.

Stavian Quang Yen Petrochemical Joint Stock Company is the investor in the Stavian Quang Yen Petrochemical Plant project with its main field of activity including the production and trading of petrochemical products.

The company was established by two main shareholders: Stavian Chemical Joint Stock Company (Stavian Chemical) and Yen Hung Liquid Port Joint Stock Company (YHLP). Stavian Chemical Joint Stock Company is a leading distributor of petrochemical products in Vietnam and the Asia-Pacific region (TOP 6 APAC according to ICIS Ranking 2021).