Hyundai Engineering wins $320 million contract at Long Son petrochemical complex

Vu Dinh Duy stopped showing up at his office soon after inspectors detected violations at a fiber plant that he once managed. A former executive of a nearly bankrupt fiber plant has been questionably absent for days, soon after government inspectors detected violations at the $325 million project. Vu Dinh Duy served as general director at PVTex, a textile unit of state-owned oil group PetroVietnam, between 2009 and 2014. His company built and run Dinh Vu polyester synthetic fiber plant in the northern city of Hai Phong, which has incurred hugh losses and is on the verge of bankruptcy. Duy, 41, is now a board member of state-owned chemical giant Vinachem. The Government Inspectorate said in a report on October 20 that it had detected several violations in the construction and operation of the PVTex plant. It proposed police investigate the case. Only four days after that, Duy stopped showing up at his current office at Vinachem. He had been seeking a leave for medical treatment overseas, but the request was not approved by the company. Failing to contact Duy for days, Vinachem's management reported his absence to their supervisors at the Ministry of Industry and Trade. The ministry has dispatched a team to track him down. Dinh Vu, the fiber plant, was meant to supply about 30-40 percent of Vietnam's annual polyester synthetic fiber demand and help reduce the country's reliance on imported raw materials. The actual operation, however, went uneasy. The plant began running in May 2014 but…... [read more]

EPC contract for polyester plant inked By Van Oanh - The Saigon Times Daily HANOI - The Dinh Vu Petrochemical and Fiber Joint Stock Co. (PVTex Dinh Vu), an affiliate of PetroVietnam, on Thursday awarded an overall contract for building Dinh Vu Polyester Fiber Plant in Hai Phong City to a consortium of Hyundai Engineering Co., LG International Corp. and Petrovietnam Construction Joint Stock Co. Under the Engineering-Procurement-Construction (EPC) contract worth US$250 million signed in Hanoi on Thursday, the contractor will develop all facilities and install production lines for the polyester factory within 25 months, including three months of test-run and handover. The consortium, led by Huyndai Engineering Co. Ltd., is responsible for all the pre-stage EPC jobs of the factory and post-stage jobs including workforce training and equipment supply for the operation and maintenance of the plant during the first operational years. The project, owned by PVTex Dinh Vu, is part of the general roadmap for Vietnam's chemical sector development until 2010 approved by the Prime Minister. The plant, the first of its kind in the northern region, costs about US$325 million and will have the daily capacity of 500 tons of fiber. The establishment of the plant will serve the textile-garment sector for manufacturing high quality fibers for all kinds of garment products and help reduce dependence on import, thus contributing to the development of Vietnam's apparel industry. It will also help raise the added-value for Vietnamese-tapped crude oil and other by-products and create the momentum for the…... [read more]

Dinh Vu Polyester Plant gets off ground By Thanh Trung - The Saigon Times Daily HAIPHONG - PetroVietnam Petrochemical & Textile Fiber Joint Stock Company (PVTex), a subsidiary of the Vietnam Oil and Gas Group (PVN), and its partners on Monday broke ground for Dinh Vu Polyester Plant project in Haiphong City. The project is expected to guarantee stable, long-term sources of materials supplying Vietnam's textile and garment industry, according to PVTex as the owner of the project. It will also impulse the development of polyester fiber industry in the future. Speaking at the ceremony on Monday, PVTex director general Nguyen Minh Dao noted that Dinh Vu Polyester Plant would comprise whole technical and auxiliary worshops inside the plant fence, as well as pipelines of liquid feedstock of Mono Ethylene Glycon (MEG) from the jetty of Dinh Vu IZ to the plant. Under the Engineering-Procurement-Construction contract signed last Thursday in Hanoi between PVTex and a consortium led by Hyundai Engineering Co., the plant will be handed over to PVTex by July 2011. The consortium, which also includes LG International Corp. and PetroVietnam Construction J.S Corp., will also train operation and maintenance personnel, supply materials, chemical substances, and catalyst in the first years of operation. Loans for the plant have been arranged in principle between PVTex and Bank for Investment and Development (BIDV) and Petrovietnam Joint Stock Finance Corporation (PVFC).... [read more]

Lilama signs contracts for Vung Ang 1 power plant HCMC - Vietnam Machinery Installation Corporation, or Lilama, on Thursday signed deals with combined value of over US$137 million with three contractors to develop Vung Ang 1 thermal power plant in Ha Tinh Province. Lilama also clinched a deal worth US$16.6 million with Yokogawa Engineering Asia Pte Ltd as provider of automatic control equipments for Vung Ang 1 plant. Lilama's general director Pham Hung said the corporation had almost completed signing major packages for construction of the thermal power plant, the Vietnam News Agency reports. Lilama has plans to sign small packages for provision of clinker, cooling system, and clinker conveyor next month. The thermal power plant will contribute eight billion kilowatts to the national grid per year since 2013 from two turbines with combined capacity of 1,200 megawatts. The first turbine is expected to run in 2012. The project is invested by Vietnam National Oil and Gas Group while Lilama serves as the engineering, procurement, and construction (EPC) contractor. The plant will help ensure energy security in the country in coming years.... [read more]

Contractors to hand over PP plant next week By Quoc Hung - The Saigon Times Daily HCMC - A consortium of contractors for the polypropylene (PP) plant as part of the Dung Quat Oil Refinery complex will hand over the project next week to the Vietnam National Oil and Gas Group, or PetroVietnam, after a successful test-run. The factory on July 15 turned out the first batch of PP grains one month after receiving materials from the Dung Quat oil refinery plant. One week later, the first 100 tons of PP was sold out on the domestic market, according to Dung Quat Economic Zone Authority. Therefore, the consortium grouping Hyundai Engineering Co., Ltd, LG International Corp, PV Engineering and PV Construction is completing procedures to transfer the PP plant to PetroVietnam on August 25, according to Dung Quat Economic Zone Authority. The plant will use propylene refined at Dung Quat oil refinery as feedstock to produce PP which is widely used in the industries of autos, power transmission, packaging and others. When starting full-steam operation, the plant will set a landmark in Vietnam’s oil refinery industry as it will reduce the country’s reliance on imported plastic materials. In terms of quality, PP produced at the plant meets the industry’s required standards and matches the quality of imported PP material. The US$235-million PP plant whose construction began in 2008 is designed to yearly process 260,000 tons of materials from Dung Quat refinery into some 150,000 tons of PP, generating annual revenue…... [read more]

By Quoc Hung - The Saigon Times Daily HCMC - A consortium of contractors building a US$235-million polypropylene (PP) plant as part of the Dung Quat Oil Refinery on Wednesday handed over the facility to Binh Son Refining and Petrochemical Co. Ltd. The factory turned out the first batch of PP grains on July 15, a month after receiving materials from the Dung Quat refinery. A week later, the first 100 tons of PP was sold out on the domestic market, according to Dung Quat Economic Zone Authority. Therefore, the consortium grouping Hyundai Engineering Co., Ltd, LG International Corp, PV Engineering and PV Construction on Wednesday transferred the PP plant to Binh Son Refining and Petrochemical, a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam). The plant will use propylene refined at Dung Quat refinery as feedstock to produce PP which is widely used in the auto, power transmission, packaging and other industries. When reaching its full capacity, the plant will set a milestone in Vietnam’s oil refinery industry as it will reduce the country’s reliance on imported plastic materials. In terms of quality, this locally made PP meets the industry’s standards and matches the quality of imported PP. The PP plant – whose construction began in 2008 – is designed to yearly process 260,000 tons of materials from Dung Quat refinery into some 150,000 tons of PP with annual revenue of US$170-200 million and profit of US$15-20 million, according to the authority.... [read more]

Noi Bai airport (Photo: VNA) An additional 173 Vietnamese citizens working in Libya came home safely on August 11, bringing the total number of Vietnamese workers returning from the North African country to 626. Of the returnees, 94 Vietnamese workers who were sent to Libya by the Vietnam Manpower Supply and Commercial Joint Stock Company (Vinamex) and the Republic of Korea's Hyundai Engineering Co., Ltd. boarded the second charter flight of Vietnam Airlines to return home from Egypt's Cairo International Airport. Another 79 were repatriated on commercial flights the same day. Elaborating on the fact that there were only 94 boarding the second charter flight instead of 254 as planned, Vinamex Deputy Director Nguyen Duc Cuong said there was a change in bringing workers from Libya to Egypt. Hyundai Engineering will keep coordinating with Vietnam Airlines to airlift its remaining some 400 workers to Vietnam in the next several days, he added. By mid-July, Vietnam had 1,750 workers in Libya, including 281 working in war-torn areas of Tripoli and Benghazi.-VNA... [read more]

A Vietnam Airlines plane carrying another 184 Vietnamese workers from Libya arrived in Hanoi-based Noi Bai International Airport on Sunday, taking the number of Vietnamese workers fleeing the escalating fighting in the North African country to over 450 since July. >> 682 Vietnamese workers to leave conflict-torn Libya from Aug 7 >> 209 Vietnamese workers return from conflict-stricken Libya >> Vietnam premier demands workers urgently brought home from Libya After getting off the plane, all the 184 people were asked to fill out their health declaration forms, a new regulation the Vietnamese Ministry of Health recently issued to prevent the deadly Ebola virus disease, a viral hemorrhagic fever that has claimed nearly 1,000 people in West Africa so far this year. A total of 455 Vietnamese workers were sent back home from unrest-plagued Libya from July to August 10, the Ministry of Labor, War Invalids and Social Affairs (MOLISA)'s Department of Overseas Labor Management said. The 184 returnees are among the 682 workers that the Vietnam Manpower Commercial Joint Stock Company (Vinamex) provided for South Korea's Hyundai Engineering Co., Ltd (HEC), the department said. They worked for a housing project in the eastern city of Al Bayda, about 200km from strife-torn Benghazi in Libya. Welcoming back the workers at Noi Bai airport on Sunday, Minister of Labor, Invalids and Social Affairs Pham Thi Hai Chuyen said her ministry will continue working with the Vietnamese Embassy in Libya to quickly bring home the remaining Vietnamese workers, especially those trapped in the…... [read more]

Thuy Dung and Le Anh Spokesman for the ministry Le Hai Binh said last week that all Vietnamese guest workers in Libya would get assistance to go home this month due to rising security concerns in the northern African country. Binh, replying to a relevant question by the Daily at the ministry's regular press briefing in Hanoi last week, said 246 Vietnamese workers had left Libya as of last Thursday. Binh told that the Ministry of Labor, War Invalids and Social Affairs is working closely with Vietnamese representative agencies in Libya, Egypt and Algeria as well as labor service companies to ensure safety exit for all the Vietnamese laborers in Libya. The Foreign Ministry has also sent diplomatic notes to the embassies of the Philippines and Thailand in Vietnam asking for support to evacuate Vietnamese citizens out of the dangerous areas in Libya. The agencies representing Vietnam in Turkey, Egypt and Algeria are working with local authorities to bring Vietnamese workers back home via air routes in the coming time. Responding to a question that Vietnam should stop or could continue sending guest workers to the countries with high risks of conflict such as Libya and Egypt, Binh said local workers would be sent overseas depending on their qualifications as well as the demand and situations of the markets where they plan to go to. Nguyen Ngoc Quynh, head of the Overseas Labor Management Department under the labor ministry, said all Vietnamese workers affected by unrest in Libya would be…... [read more]

Nhan Dan - An additional 173 Vietnamese citizens working in Libya came home safely on August 11, bringing the total number of Vietnamese workers returned from the North African country to 626. Of the August 11 arrivals 94 were Vietnamese workers who were sent to Libya by the Vietnam Manpower Supply and Commercial Joint Stock Company (Vinamex) and the Republic of Korea's Hyundai Engineering Co., Ltd. They together boarded a second chartered Vietnam Airlines flight to return home from Egypt's Cairo International Airport. Another 79 citizens were repatriated on commercial flights the same day. Elaborating on the fact that there were only 94 boarding the second charter flight instead of 254 as planned, Vinamex Deputy Director Nguyen Duc Cuong said there was a change in plans in bringing workers from Libya to Egypt. Hyundai Engineering will continue co-ordinating with Vietnam Airlines to airlift its some 400 workers to Vietnam in the next several days, he added. By mid-July, Vietnam had 1,750 workers in Libya, including 281 working in the war-torn areas of Tripoli and Benghazi. (Source: VNA)... [read more]




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