Vung Ro Petroleum is bringing clean tech to Vietnam from the green state of Denmark by entering an important partnership with DenimoTech, a Danish global machinery equipment, and turnkey industrial facility manufacturer, to construct a high-tech state of the art bituminous binders processing plant.
TTCL Vietnam, a subsidiary of TOYO Group, is awarded for Vietnamese part of Civil Construction works of the project. Disclosing no specific amount of investment capital, the two sides said that it is up to hundreds of million dollars.
This plant is a part of the Vung Ro Refinery and Petrochemical project owned by Vung Ro Petroleum. The refinery and petrochemical complex is located in Dong Hoa district, Phu Yen province with a total value of US$4 billion, including refineries, petrochemical complexes, and seaports.
The project is expected to have a storage capacity of 12,000 MT with a second phase upgrading to 30,000 MT. Phase one is implementing till mid-2018 and the second phase would be conducted within the following 26-28 months.
In the first phase, the plant’s core products including road and construction paving bitumen, bitumen emulsions for road construction, and high-tech polymer modified bitumen (PMB) and cutback bitumen.
Its design capacity is to distribute up to 400 tons of highest quality road and construction bitumen on a daily basis in high-season and up to 100,000 tons of bitumen emulsions per year, equipped with the environmental friendly DenimoTech Inline Emulsion Plant, which produces zero industrial and chemical waste and emissions.
The plant will produce PMB in accordance with the Vietnamese standard as well as Superpave's Performance Grade Binders standards, the world’s most advanced comprehensive framework for advanced and efficient road construction and binder specifications.
The plant is believed as a state-of-the-art packing facility to facilitate exports of high-tech bituminous products to regional markets and acts as its own port facility for importing and exporting bituminous products.
At the signing ceremony on 11th January 2018, Kirill Korolev, CEO of Vung Ro Petroleum revealed that the company selects DenimoTech as the key contractor for the project due to its leading high-tech, especially in the manufacture of bituminous products for building industry.
He believes that this project will bring about the valuable benefits to the infrastructure construction industry in Vietnam.
Bernd Schmidt, CEO of Bitumina Group, managing corporation of DenimoTech, said that the company would deliver a cutting-edge facility and technology for Vung Ro Petroleum and help bring in pavement design which has longer-life and can solve the local engineering problems for the Vietnamese Construction and Industrial sectors.
“We will not only support Vung Ro Petroleum in the construction of the plant but we will also accompany with the company in the entire time of the project to support it to produce the best products, significantly contributing to the road construction in Vietnam,” committed Bernd Schmidt.