Samsung Engineering to build plant in Vietnam

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Samsung Engineering to build plant in Vietnam

Published: 28 Jun. 2018, 19:27

Samsung Engineering said Thursday it has secured a 620 billion won ($551 million) petrochemical plant order in Vietnam, possibly paving the way to more orders in Southeast Asia.

In Bangkok on Wednesday, Samsung Engineering signed a contract with Long Song Petrochemicals Co. to build a 450,000 ton-a-year high density polyethylene plant and a 400,000 ton-a-year polypropylene plant in Vung Tau City by 2022, the company said in a statement.

Long Song Petrochemicals is an affiliate of Siam Cement Group, Vietnam’s biggest private sector company.

Samsung Engineering received 6.3 trillion won worth of orders in the first half of this year, putting it on pace to outstrip the 8.5 trillion won worth of orders in all of 2017, the statement said.

Yonhap