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World Steel Group signs $10mn deal for Long Son Petrochemicals project

Tuesday, October 13, 2020, 17:00 GMT+7
World Steel Group signs $10mn deal for Long Son Petrochemicals project
Executives from World Steel Construction Joint Stock Company and Tan Phuoc Thinh Construction & Investment Joint Stock Company sign a $10 million agreement over design - production – construction in the H&I-8 package of Long Son Petrochemicals Complex project implementation at Vung Tau Imperial Hotel in Ba Ria-Vung Tau Province, September 29, 2020.

World Steel Construction Joint Stock Company and Tan Phuoc Thinh Construction & Investment Joint Stock Company held a ceremony at Vung Tau Imperial Hotel on September 29, 2020 to sign a cooperation contract for the H&I-8 package of Long Son Petrochemicals Complex project implementation.

Thailand’s SCG Group invests in the Long Son Petrochemicals Complex (Long Son Petrochemicals – LSP), with a total registered capital of about US$5.4 billion. The complex is located in Long Son District, Ba Ria - Vung Tau Province. This is considered the first petrochemicals complex in Vietnam with a capacity of up to 1.6 million tons per year, capable of replacing polyolefins that are imported.

The H&I-8 package belongs to the Long Son Petrochemicals Complex project, with an area of 56,000 square meters and a total value of up to $10 million, was officially signed by Tan Phuoc Thinh Company to hand over to World Steel Group the role of design, production, and construction installation. This is a very important project category in the H&I-8 package.

Nguyen Khanh Lam (L), chairman and CEO of World Steel Construction Joint Stock Company, and Pham Van Triem, chairman of Tan Phuoc Thinh Investment & Construction Joint Stock Company, pose for a photo during the contract signing ceremony.

Nguyen Khanh Lam (L), chairman and CEO of World Steel Construction Joint Stock Company, and Pham Van Triem, chairman of Tan Phuoc Thinh Investment & Construction Joint Stock Company, pose for a photo during the contract signing ceremony.

According to Pham Van Triem, chairman of Tan Phuoc Thinh Investment & Construction Joint Stock Company, after a period of carefully reviewing and evaluating the capabilities of many contractors that are leading steel structure companies in Vietnam, his firm decided to choose World Steel Group as the design and construction contractor of the H&I-8 package of the Long Son Petrochemicals Complex project.

World Steel Group is one of the few companies, with ample capacity, that can fully meet the rigorous criteria of the project and Tan Phuoc Thinh 's expectation for this category, Triem said.

In addition, World Steel Group is known in Vietnam as one of the leading industrial construction contractors, specializing in providing package solutions for pre-engineered steel buildings for industrial use from design and production to construction installation.

World Steel Group is increasingly asserting its position in the domestic and international markets by owning many key projects such as important categories in the Hoa Phat Iron and Steel Complex project, CPV Food, the GPPD - Binh Phuoc Becamex energy battery manufacturing factory, many different stages of Tongwei Group's projects in Tien Giang and Hai Duong Provinces.

The group also holds export projects related to Southeast Asian markets such as the Thailand 7-Eleven project, the Philippines Coca Cola Warehouse project, and particularly export projects to the U.S. market.

These projects have gained investors’ trust, praise, and appreciation for the quality of the work, construction progress, and implementation capacity.

World Steel Group is also the first company in Vietnam and Asia honored with the IAS AC472 Quality Certificate for the steel structure sector.

This is a prestigious certificate recognized by the American Metal Building Manufacturers Association (MBMA) and ICC, and is the standard metric for companies that design and manufacture pre-engineered steel structures and steel building systems for the U.S. market.

Achieving the IAS AC472 certificate marked an outstanding milestone in World Steel Group’s development and affirmed its strong competitiveness in the global market.

The leadership of the two sides take photos after the signing ceremony.

The leadership of the two sides take photos after the signing ceremony.

The Southern Petrochemicals Complex project in Long Son Commune, Vung Tau City is one of the projects with a great effect on economic development in Ba Ria-Vung Tau. It is expected to be completed in 2022.

When put into operation, the project will wield strong influence on many fields, especially supporting industries, attracting new investment trends in the post-petrochemicals sector and creating resilience for the economy of the province.

With a total investment of $5.4 billion, the complex will attract about 1,000 skilled workers and contribute about $60 million per year to the state coffers.

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Yen Viet

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