Hyundai Eng to build Petrovietnam plastics plant
HANOI, Dec 3 (Reuters) - State oil group Petrovietnam has hired Hyundai Engineering & Construction Co (000720.KS: Quote, Profile, Research, Stock Buzz) to build a polypropylene plant with a capacity of 150,000 tonnes per year, company officials said on Monday.
They said the plant, located next to Dung Quat oil refinery, the country's first, will be completed in 2009, around the same time as the refinery.
The engineering-procurement-construction contract is worth more than $232 million, said the officials from the group's headquarters in Hanoi.
Polypropylene is a polymer that has a wide variety of applications, mainly to produce plastics and automotive parts. (Reporting by Nguyen Nhat Lam; Editing by Ian Geoghegan)
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