Petrovietnam - Messer joint venture to invest in Cai Mep Industrial Gas Plant

(Chinhphu.vn) - Joint venture to invest in building an industrial gas production plant in Cai Mep Industrial Park, Ho Chi Minh City with a capacity of 200,000 tons/year and a total investment of about 37 million USD.

Representatives of PVChem and Messer signed the Joint Venture Contract to establish Cai Mep Industrial Gas Company Limited

On the morning of November 11, in Hanoi, PetroVietnam Chemicals and Services Joint Stock Corporation (PVChem) - a member unit of Vietnam National Energy and Industry Group ( Petrovietnam ) and Messer SE & Co. KGaA Industrial Gas Group (Germany) signed a Joint Venture Contract to establish Cai Mep Industrial Gas Company Limited. The joint venture invests in the construction of an industrial gas production plant in Cai Mep Industrial Park, Ho Chi Minh City with a capacity of 200,000 tons/year and a total investment of about 37 million USD.

In terms of efficiency, with an expected revenue of VND310 billion/year and a payback period of 13 years, the project promises to bring stable profits to shareholders while creating jobs for local workers. Furthermore, by reducing greenhouse gas emissions and promoting a green economy , the project is in line with the Gas Industry Plan to 2035, the National Energy Plan and Vietnam's commitments at COP26. The plant is expected to start construction at the end of 2026 and be commercially operational by the end of 2028.

Cai Mep Industrial Gas Plant is designed according to a green and circular economic model, utilizing cold energy from PVGas' LNG storage system to deep cool the gas separation process. The plant applies European Cryogenic Air Separation (CAS) technology, combined with the recovery of cold energy generated during the LNG regasification process. This solution significantly reduces electricity and cooling water, thereby reducing indirect CO₂ emissions and improving overall environmental efficiency. This project is an important link in Petrovietnam's LNG - industrial gas - clean energy value chain, contributing to improving energy efficiency, reducing CO₂ emissions and optimizing existing gas infrastructure.

This is not only a pioneering project in energy transition, green economic model, circular economy, chain linkage that Petrovietnam and PVChem were assigned to implement, contributing to promoting the national energy strategy, but also a pioneering project of Messer globally demonstrating a strong commitment to the green production transition by reducing CO₂ emissions and saving energy (electricity and water).

The Messer - PVChem Joint Venture Project is a concrete step in implementing Petrovietnam's green energy and circular economy strategy, in line with Vietnam's carbon neutrality goal.

Mr. Le Manh Hung, Chairman of the Board of Directors of Petrovietnam, commented that the Messer - PVChem Joint Venture Project is a concrete step in implementing Petrovietnam's green energy and circular economy strategy, in line with Vietnam's carbon neutrality goal.

Mr. Truong Dai Nghia, Chairman of PVChem's Board of Directors, affirmed that the joint venture with Messer is a strategic step to help PVChem expand green production, strengthen internal linkages within Petrovietnam and promote the formation of a sustainable value chain.

Messer SE Co. KGaA representative, Mr. Bernd Eulitz, General Director, shared: "Messer is honored to cooperate with PVChem and Petrovietnam in implementing the integrated LNG-ASU solution to optimize energy efficiency and meet European environmental standards.

Meanwhile, Mr. Stefan Messer, Chairman of the Supervisory Board of Messer SE Co. KGaA, emphasized that this is a great opportunity for Vietnam's industry to reduce carbon emissions through the use of low-emission industrial gases - an essential factor for many economic and medical sectors.

PVChem is a member of Petrovietnam, operating in the fields of petrochemicals, technical services, green manufacturing and renewable energy. With over 35 years of development, PVChem aims to become a leading regional enterprise in the field of chemicals and industrial services, a pioneer in green transition and circular economy development.

Messer is the world's largest privately held group specializing in industrial, medical and specialty gases, operating in more than 60 countries with 127 years of experience. Operating in Vietnam since 1997, Messer is one of the largest German investors, with factories in Hai Phong, Thai Nguyen, Quang Ngai, Binh Duong and Tay Ninh.

Anh Tho

Source: https://baochinhphu.vn/petrovietnam-messer-lien-doanh-dau-tu-nha-may-khi-cong-nghiep-cai-mep-102251111140958662.htm