Hyosung Vina Chemicals Co., Ltd., a chemicals company invested by the Republic of Korea (RoK), on December 17 put into operation a polypropylene (PP) plant and a liquefied petroleum gas (LPG) storage cavern at the Cai Mep Industrial Park in the south-central province of Ba Ria-Vung Tau.

The Vietnamese Prime Minister approved in principle the US$1.3 billion project in May 2018 whose construction began later the same year.

PP will be used to manufacture various containers, drain pipes, medical syringes, and textiles in Viet Nam.

Choi Young Gyo, general director of Hyosung Vina, said the underground LPG storage cavern is the largest of its kind in Southeast Asia with a total capacity of 240,000 tonnes.

Once fully operational, the complex will churn out 650,000 tonnes of PP each year, of which, 300,000 will be supplied to the Vietnamese market, helping to raise competitiveness of the domestic production sector, the company said.

Since its presence in Viet Nam in 2007, Hyosung Group has invested a total of $3.4 billion, with $1.8 billion in southern Dong Nai Province, $250 million in the central province of Quang Nam, and $1.3 billion in Ba Ria-Vung Tau.

The project in Ba Ria-Vung Tau is expected to generate jobs for more than 400 labourers. — VNS