Issue Date: April 7, 2008
Mitsui Joins Vietnam Project
Mitsui Chemicals will take a 5% stake in a $6 billion refinery and petrochemical plant planned for northern Vietnam. Idemitsu Kosan and Kuwait Petroleum will each take a 35% stake in the venture while Petrovietnam will own the remaining 25%. The companies have not announced a chemical slate, but Mitsui says it wants to improve aromatics supplies in support of its purified terephthalic acid and phenol businesses. Thailand's Siam Cement and Petrovietnam recently said they are advancing plans for a $4 billion petrochemical complex on Vietnam's Long Son Island.
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