Stavian Group has selected MAIRE Group as the consultant and implementation partner of the overall engineering design (FEED) for the Stavian Quang Yen Petrochemical Project, investment capital of 1.5 billion USD, through bidding internationally. Stavian Quang Yen Petrochemical Plant will be built in Bac Tien Phong Industrial Park, invested by Stavian and Yen Hung Liquid Port Joint Stock Company (YHLP). The project has an estimated investment of 1.5 billion USD and a yearly production scale of 600,000 tons of polypropylene.
Tecnimont Joint Stock Company (Tecnimont S.p.A) will implement this Package - a subsidiary of MAIRE, specializing in developing total design and construction (E&C) solutions.
On May 18, 2023, Stavian Quang Yen Petrochemical Joint Stock Company and Tecnimont Joint Stock Company signed a contract; the expected progress of completing the FEED design is ten months. The signing ceremony of the consulting contract to establish the overall technical design marked an important milestone in the development process of the Stavian Quang Yen Petrochemical Plant Project.
The strong growth of the downstream processing and manufacturing industry, especially in the Asia-Pacific region, thanks to the general world demand for petrochemical products, is expected to continue to increase.
In 2022, the demand for plastic materials in the Vietnamese market was 8 million tons, with PP and PE having the most significant consumption, accounting for 55% of the total import volume of the whole industry, and is estimated to grow at an average growth rate of 6.6%/year until 2025. On that basis, the domestic market's supply capacity of raw materials is still limited and has potential for development.
To ensure the autonomy of input materials for the processing and manufacturing industry, which is the focus of the development of Vietnam's circular economy and sustainability, the Stavian Quang Yen project marks the importance of the project. , as well as ensuring progress, safety, quality and high efficiency.
Tecnimont S.p.A is a long-time partner of significant technology copyright providers such as Honeywell UOP or LyondellBasell and is currently one of the leading units in technical consulting and construction of plant complexes using technology PDH - PP worldwide. In 2021, Tecnimont successfully deployed the FEED item for the Phu My Polypropylene Granules Factory project.