The project involves leveling ground for petrochemical plant in Vietnam for 81.2 bln won; to be completed by Sept. 2020
President Lee Myung-hoon of POSCO E&C.
A bird¡¯s eye view of a petrochemical plant being built on Long Son Island some 80 km from Ho Chi Minh City, Vietnam, by Long Son Petrochemical Co. in Vietnam. (Photos: POSCO E&C)
POSCO Engineering and Construction Co. (POSCO E&C) said on Aug. 24 that it signed a contract with Long Son Petrochemical Co. to win a project to level the site for a petrochemical plant some 80 km from Ho Chi Minh City in Vietnam for 81.2 billion won.
The new plant is to be built on Long Son Island in the Baria Vung Tau Province in Vietnam some 2.31 million square meters in total space, and POSCO E&C is obligated to complete the project in September 2020.
Present at the signing included President Thammasek Sethaudom of Lon Son Petrochemical Co. and Director Ok In-hwan of the Headquarters of Infrastructure Project of POSCO E&C, among others.
The Korean construction firm won the project involving the construction of various infrastructure at the new petrochemical plant in January this year, such as storage tanks and a wharf for loading and unloading of petrochemical products, in addition to the ground leveling project.
Officials of POSCO Construction said they were able to validate the deep trust they have in their company by giving such large projects to POSCO Construction.
POSCO¡¯s Steel Village was tabbed by the UN as an exceptional illustration of a social contribution activity that shifts the paradigm of corporate social responsibility in the global landscape. This is not the first time the UN recognized POSCO¡¯s concerted efforts to reform poor residential areas around the world by applying POSCO¡¯s unique sustainable resources combined with advanced techniques.
The Steel Village initiative had been previously registered on the UN¡¯s SDG website as ¡°ideal¡± and was selected in April as an eminent example by UN during its 50th conference of the UN Population Development Division.
On July 18, POSCO introduced its Steel Village project to 193 member countries of the UN, as an implementation of Sustainable Development Goals (SDG) at the United Nations High-level Political Forum event hosted by Korea¡¯s Ministry of Foreign Affairs.
The SDG, also known as ¡°2030 Agenda,¡± is a collection of 17 international goals established by the UN in 2015 to address social and economic issues worldwide while achieving the prosperous coexistence of humanity by the year 2030.
The Steel Village Project is one of POSCO¡¯s leading global social contribution activities adopting POSCO¡¯s steel and construction methods to create residential buildings and bridges for the underprivileged. Since 2014, POSCO has built 104 steel houses and steel bridges in Vietnam¡¯s poor residential areas. And this year, a steel dome was constructed and donated to a Thai school where students can enjoy sports activities on bad weather days.
The host of this event, South Korean Ambassador to the UN, Tae-yul Cho commented, ¡°The POSCO Steel Village is an authentic representation of CSR activity in the private sector that will shift the perception of developing countries and the global community of CSR activities. Accordingly, a call for active promotion is essential.¡±
POSCO¡¯s head of external relations Jeong-sik Kwak also added, ¡°It is an honor to share stories to inspire developing countries worldwide with POSCO¡¯s aptitude for creating infinite possibilities despite scarcity of resources.¡±
Vietnam Steel Village is a town construction project that carried through in increments for three years since 2014 to accommodate around 500 homeless people in Tan Hoa commune, Ba Ria-Vung Tau Province, a location site of POSCO-Vietnam and POSCO SS VINA.
The land was provided by the local government, the construction costs supported by POSCO 1% Foundation while POSCO employees and POSCO global youth volunteer group, Beyond participated in the construction works.
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