South Korean contractors sign $2.7-billion deal for Long Son complexTwo South Korean investors, namely SK E&C and POSCO E&C, will develop two projects to serve Long Son Petrochemical Complex located in Long Son Island in the southern province of Ba Ria-Vung Tau, according to newswire Koreabusiness. SK E&C and POSCO E&C are both building projects to support Long Son Petrochemical ComplexThe ethylene plant is one of the segmented parts of the project, including a polypropylene and a polyethylene plant. This order seems more meaningful in light of the remarkable synergies POSCO E&C generated in its first year in Vietnam. Earlier in August 2017, Hyundai Engineering Co., Ltd. announced winning a contract worth $320 million to build facilities at the Long Son petrochemical. Long Son Petrochemical Complex now has a total investment capital sum of $5.4 billion, up 20 per cent from its initial plan of $4.5 billion due to rising construction costs.

Source: VietNamNet News February 06, 2018 10:18 UTC