Australia-Vietnam LPG deal

Mon, 27 Jun 1994 | Source: AFP

HANOI (AFP): Western Australia's Westfarmers Kleenheat Gas Pty Ltd. has signed a joint venture contract with Vietnam's Petrolimex for the production and distribution of liquefied petroleum gas (LPG), the Vietnam News daily announced on Saturday.

Under the name of Kleen-Petro Gas Pty Ltd., the joint venture is to build and operate storage and distribution facilities for LPG all over the country, starting in Hanoi, Haiphong and Ho Chi Minh City, the Vietnam News said.

The joint-venture, with an expiry term of 30 years, has total investment capital of US$29 million, which will be contributed equally by both sides. Its initial investment capital amounts to $12.5 million for the 1994-1996 period.

Vietnam's first LPG factory was launched in Ho Chi Minh City last year by France's Elf Antargaz and the Union of Construction Materials Factories with an annual capacity of 25,000 tons.

View JSON | Print