Vietnam Saigon Plastic Association (VSPA) has boosted its plans to build a USD 800 million, natural-gas fired plastics plant in Ba Ria-Vung Tau province, VSPA Chairman Tran Cong Hoang Quoc Trang has said. “We are seeking government approval to build a 350,000-ton/year plastics plant for completion in 2005 or 2006,” Trang said. In August, Trang said the VSPA was considering a USD 250 million plan to build the plant which would be capable of supplying 175,000 tons of polyethylene and 175, 000 tons of polypropylene each year. “The construction plan we are looking at now is costing more than the initial plans because technical equipment is much better,” Trang said. “VSPA will work with PetroVietnam to finalise details for gas supply, and we hope to come up with feasible construction plans with potential investors sometime next year.” A PetroVietnam executive said Vietnam has huge reserves of natural gas and PetroVietnam is willing to support future plans to use the natural gas for local industries.
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