STAVIAN QUANG YEN PETROCHEMICAL PLANT TAPS INTO TECHNOLOGY FROM HONEYWELL UOP AND BASELL POLIOLEFINE ITALIA

HA LONG,Vietnam,Nov. 3,2022 --Stavian Quang Yen Petrochemical Plant announced choosing technology licenses from Honeywell UOP (USA) and Basell Poliolefine Italia (Italy) for its Polypropylene production. The project is expected to strengthen the exports of petrochemical productsto international market and domestic supply.

On the morning of November 1,2022,the Technology License Agreement Signing Ceremony for the Stavian Quang Yen Petrochemical Plant project took place in Ha Long city,Quang Ninh province. Attending the event were representatives of the Ministry of Industry and Trade,Quang Ninh People's Committee and the representatives of Departments of Quang Ninh province.

The project investors have selected technology licenses from Honeywell UOP and Basell Poliolefine Italia,two of the world's leading advanced technologies,for its Polypropylene manufacturing. Apart from the cutting-edge technology,Stavian Quang Yen Petrochemical Plant will be equipped with a high-tech,automated,and eco-friendly production line imported from EU and G7 countries.

Especially,as part of its sustainable commitment,Stavian Quang Yen Petrochemical signed a Memorandum of Understanding with Bac Tien Phong Industrial Zone on research and applying more advanced solutions to optimize water use in production.

Dinh Duc Thang,Chairman cum CEO of Stavian Quang Yen Petrochemical JSC said:

"Polypropylene is an important input material for many manufacturing industries such as automobiles,electronics,plastics,textiles,medical,pharmaceuticals,cosmetics,construction,packaging,FMCG,agriculture,etc. We believe that the Stavian Quang Yen Petrochemical Plant Project will make a huge contribution to the significant growth of Stavian Group and deliver high quality products to regional and international market."

At the event,representatives of Honeywell UOP and Basell Poliolefine Italia had more in-depth sharing on advanced and eco-friendly technology for Polypropylene production. Accordingly,the C3 Oleflex™ technology provided by Honeywell UOP has low energy consumption,low emissions,and a fully recyclable,platinum-alumina-based catalyst system to help minimize its impact on the environment to the lowest.

Keith Couch,Vice President of Business Development,Honeywell UOP commented:

"The C3 Oleflex™ process is the latest generation to convert propane to propylene. This helps the Plant to flexibly use any available propane sources on the market. Honeywell UOP has always applied the highest standards of quality,safety,health protection,and environmental protection in our technology design".

Playing a crucial role in Polypropylene production,Basell Poliolefine Italia's Spheripol™ technology possesses significant product capability and versatility that is proven by hundreds of current commercially operated lines in the market. Besides that,Spheripol™ is also featured with a safe,stable,energy-saving,and eco-friendly design.

Neil Nadalin,Director of Global Licensing & Service,Basell Poliolefine Italia added:

"The selection of the Spheripol™ process will enable Stavian to produce benchmark polypropylene resins in state-of-the-artprocess technology,allowing them to serve best the steep growing market in Asia."

Up to now,the Stavian Quang Yen Petrochemical Plant project has almost completed its investment preparation procedures in accordance with Vietnamese regulations. As a high quality source of Polypropylene,the plant helps diversify the source of petrochemical productsin both regional and international markets.

About Stavian Quang Yen Petrochemical

Stavian Quang Yen Petrochemical Plant is built on an area of 30 hectares in Bac Tien Phong Industrial Zone at Tien Phong commune,Quang Yen town,Quang Ninh province. The project has an estimated total investment of up to 1.5 billion USD with a production scale of 600,000 tons of Polypropylene per year.Stavian Quang Yen Petrochemical JSC is the investor of the Project with the main field of business including the production and trading of petrochemical products.The company was established by 02 main shareholders: Stavian Group and Yen Hung Liquid Port Joint Stock Company (YHLP).