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Markets :: Basic Chemicals :: Petrochemicals :: Para-xylene

Mitsui and Idemitsu Plan Aromatics JV in Vietnam

11:46 AM MDT | April 7, 2008 | Ian Young

Mitsui Chemicals and Idemitsu Kosan (Tokyo) have agreed to team up with Kuwait Petroleum International (KPI) and Petrovietnam (Hanoi) to build a world-scale refining and aromatics complex in Vietnam. The companies plan to form a joint venture, provisionally named Nghi Son Refinery & Petrochemical, in which Idemitsu and KPI will each hold a 35.1% stake, Petrovietnam will hold 25.1%, and Mitsui 4.7%. The jv would build the complex, estimated to cost $5.8 billion, in the Nghi Son Economic Zone in Thanh Hóa Province, northern Vietnam. A jv agreement is due...

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