- The joint venture will invest $35 million in a plant at Cai Mep Industrial Park.
- The plant will have a capacity of 200,000 tons per year.
- Construction starts in late 2026, with operations by late 2028.
- The project uses European Cryogenic Air Separation technology.
Joint Venture Overview
Petrovietnam Chemical and Services Corporation (PVChem) and Messer SE & Co. KGaA have signed a Joint Venture Agreement to establish Cái Mép Industrial Gases Co. Ltd. The venture will develop an industrial gas production plant at Cai Mep Industrial Park, Ho Chi Minh City, with a capacity of 200,000 tons per year and a total investment of approximately $35 million.
Project Timeline
Construction of the plant is expected to begin at the end of 2026, with commercial operations slated for the end of 2028.
Technological Advancements
The Cái Mép plant will align with green and circular economy models, utilizing cold energy from the LNG storage system of PVGas for deep refrigeration in the gas separation process. This approach enhances energy efficiency, reduces greenhouse gas emissions, and optimizes existing gas infrastructure.
Innovative Solutions
The project will apply European Cryogenic Air Separation (CAS) technology, combined with cold energy recovery from the LNG regasification process. This solution significantly reduces electricity and cooling water consumption, thereby lowering indirect greenhouse gas emissions and improving environmental performance.
