POSCO Engineering & Construction (POSCO E&C) said Friday it signed a 81.2 billion won (US$72.33 million) contract to lay the groundwork for a petrochemical complex in Vietnam.
The South Korean builder will work on the 2.31 million-square-meter site on Long Son Island in the province of Ba Ria-Vung Tau, about 80 kilometers southeast of Ho Chi Minh City. Work on the project, won from Vietnam Long Son Petrochemical (LSP), will begin next month with the completion date set at September 2020, the company said.
POSCO E&C in January signed on to a 750 billion-won contract to build storage tanks and a wharf facility that will serve the petrochemical complex. (Yonhap)