Work starts on PetroVietnam arm’s pipe plant

The Petroleum Equipment Assembly and Metal Structure Joint Stock Co broke ground Monday for a VND2.2 trillion (US$111.5 million) steel pipe manufacturing plant at the Soai Rap Industrial Park in the southern province of Tien Giang.

The plant, the first of its kind in Vietnam and to be equipped with Swiss machinery and technologies, will have a capacity of 100,000 tons a year when it starts operations in the third quarter of next year.

Its products will be supplied to group companies like Nam Con Son 2 and Lot B O Mon gas pipeline others to carry natural gas from offshore oil rigs to power and industrial projects.

It will begin exports in 2013.

Following an upgrade in its second stage, the plant will produce steel used for offshore oil-rig structures.

The Petroleum Equipment Assembly and Metal Structure is one of the many subsidiaries of the National Oil and Gas Group, or PetroVietnam.

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