MOSCOW (MRC) -- Russian petrochemical company SamaraNefteOrgSintez (Sanors) has shown interest in Thai PTT's mega refining and petrochemical project in Vietnam's Binh Dinh province, reported Apic-online with reference to the Binh Dinh provincial government's statement.
Sanors chief, Igor Soglayev, and his delegation met Binh Dinh government officials at the proposed 660,000 b/d project site. "Igor Soglayev said this project is very attractive to investors, but it needs clear commitments of the involved governments," it said.
The mega refining and petrochemical project in Vietnam's Binh Dinh province was proposed by Thailand's top energy company PTT in November last year. It expects to complete the feasibility study for the proposed complex in the Vietnamese central province of Binh Dinh in April 2014, which will then be submitted for Vietnamese government's approval.
Soglayev has asked Binh Dinh officials to meet Igor Sechin when the Rosneft president accompanies Russian President Vladimir Putin on his visit to Vietnam starting November 12.
The provincial government will also meet PTT officials on Tuesday, according to the provincial government officials.
Total investment for the project is expected to range from USD25 billion to USD30 billion. PTT would finance part of it with the remainder sourcing from other potential investors and financiers, Sukrit Surabotsopon, Senior Executive Vice President of Petrochemicals & Refining Business Unit at PTT, said in a press briefing in Binh Dinh on August 15.
As MRC wrote previously, Sanors and Russia's state-owned giant Rosneft in June signed a heads of agreement, under which the companies intend to create a joint venture that will incorporate Rosneft's gas-processing assets and Sanors' petrochemical assets in Russia's Samara and Orenburg regions. One of the joint venture's main objectives will be to build a world-scale petrochemical complex in the Samara region.
Russian Sanors produces a wide variety of petrochemical products like phenol, acetone, alpha-methyl-styrene, ethylene, synthetic ethanol.
PTT Asahi Chemical Company Limited (PTTAC), a company of the PTT Group, is a joint venture of PTT Public Company Limited (PTT), Thailand chemicals producer , and Marubeni Corporation (Marubeni) of Japan, one of the world's leading petrochemicals traders with the shareholding ratio of 48.5%, 48.5% and 3% respectively. PTTAC receives joint support from the shareholders with strengths in technology, feedstock, operations and marketing.
MRC