The project will be built on an area of nearly 61ha at a cost of more than US$1.2 billion. It will include two works; a 240,000 ton capacity underground storage tank for Liquefied Petroleum Gas (LPG) and a Polypropylene production factory to produce products such as Ethylene, Propylene, Polypropylene and Hydrogen.
According to the managing board of the Ba Ria-Vung Tau IZs, the construction of the factory and storage facility will be complete in late 2020 and they will be operational from early 2021 for the next 34 years. This is the largest scale project at Ba Ria-Vung Tau IZs.
The province’s IZs have so far drawn 326 projects with a combined capital of more than US$18.2 billion, of those, 42 projects worth nearly US$2.1 billion have been licensed over the past eight months.