Thai firm mulls petrochemical, power plants in Binh Dinh

Thailand-based Rayong Purifier Public Co. Ltd (RPC) on Wednesday signed a memorandum of understanding (MOU) to carry out feasibility study on building a petrochemical plant and a thermoelectric plant in Binh Dinh Province.

Viravat Cholvanich, chair of the Thai firm, and Nguyen Van Thien, chair of the central coast province, signed the MOU in the province’s Quy Nhon City on Wednesday for the two projects. The signing was made after the company had conducted a study about investment environment in a fact-finding trip in the last two days and had a meeting with leaders of the province, said an official of Binh Dinh Investment Promotion Centre.

Under the agreement, the investor will consider to build the petrochemical facility in the non-tariff zone developed by HCM City-based Khang Thong Construction – Trading – Service Joint Stock Co. in the province’s Nhon Hoi Economic Zone. The facility, which also refines oil products, should have a designed capacity of 3 million tonnes per year for the first phase and requires capital of $400 to $500 million.

Besides, the company also plans to develop a thermoelectric plant in the province. Binh Dinh authorities suggested the company develop a 700MW plant in Phu Cat District in the province.

The Thai firm was introduced to Binh Dinh Province by Khang Thong Construction – Trading – Service Joint Stock Co., which started construction of an industrial park and a non-tariff zone in Nhon Hoi Economic Zone early this year.

Khang Thong will spend more than VND4 trillion developing the non-tariff zone on 490 hectares, an industrial zone covering 70 hectares and a deep-water port covering 40 hectares inside the zone.

Binh Dinh Province in the first half of this year saw $6.3 million of disbursed investment capital, including $5.4 million as foreign direct investment. The province also issued licenses for five projects with total registered capital of over $149.5 million. The province is now home to 39 operational FDI projects with total registered capital of over $620.94 million. – Saigon Times

Tags: Rayong Purifier Public, Vietnam energy

Posted by VBN on Jul 27 2010. Filed under Energy, Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry