This is a typical project celebrating Ba Ria - Vung Tay Province's 30th founding anniversary (August 12, 1991 - August 12, 2021).
The event was attended by member of the Party Central Committee, Secretary of the Provincial Party Committee, and Chairman of the People's Council of Ba Ria-Vung Tau Province Pham Viet Thanh; along with member of the Party Central Committee, and Secretary of the Dong Nai Provincial Party Committee Mr. Nguyen Hong Linh.
The project of PP plant and LPG underground storage has received investment from Hyosung Group (the Republic of Korea).
With a total investment of 1.3 billion USD, the project includes the complex for polypropylene factories No.1 and No.2, with a capacity of 300,000 tonnes per year each; a specialised port to receive ships of 60,000 tonnes; a propylene and ethylene factory, with a capacity of 600,000 tonnes per year; and an LPG underground storage facility (located at a depth of 110 metres to nearly 200 metres above sea level, nearly 5 kilometres in length), with a capacity of 240,000 tonnes, making it the largest in the East South Asia.
Polypropylene factory No.1 has been completed and in operation since March 2020. Meanwhile, Polypropylene factory No.2, the propylene and ethylene factory and the LPG underground storage facility have been completed and tested since September 2021.
The above factories specialise in the production of Polypropylene, Ethylene, Propylene used for the production of auto parts, high-quality household plastic, and medical products.
LPG underground storage facility stores raw materials for factories, and at the same time supplies projects in the province and the southern key economic region as well as for export.
