The success of the signing ceremony on March 6 marked a new development in the cooperation between Sojitz Vietnam and Stavian Group towards sustainable development and solidarity.

Under the MoU, Sojitz Vietnam and Stavian Group will develop strategic cooperation in forest development, wood chips, energy, decarbonisation, paper pulp, and chemicals.

Sojitz Group has approximately 400 subsidiaries and affiliates in Japan and worldwide that operate in automobiles, aerospace and transportation, energy, mineral resources (recycling), chemicals, food sources, agriculture and forestry, consumer goods, and industrial products.

In Vietnam, Sojitz has 17 joint venture companies with revenue of about $1 billion from equipment (ITC, power plants, motorbike parts), energy (gas and coal), chemicals, industrial parks (IPs), agriculture and forestry (animal feed, fertiliser, afforestation, wood), and paper production.

The Japanese group is ramping up its expansion across many areas in Vietnam. Last November, Sojitz and its subsidiaries jointly acquired full ownership of DaiTanViet JSC (New Viet Dairy), Vietnam’s largest wholesaler of commercial food. In the same month, the group also signed an MoU with Vietnamese real estate developer Long Thanh Golf Investment and Trading JSC (GLT) to co-develop Long Duc 3 Industrial Park in the southern province of Dong Nai.

Stavian Group is a multinational industrial and investment company with a diversified business portfolio ranging from chemicals and petrochemicals to packaging, recycling, high-tech materials, and logistics. Last September, Stavian Quang Yen Petrochemical Plant, one of Stavian’s latest projects, received technology transfer licences for petrochemical technology to produce polypropylene resins from Quang Ninh Department of Science and Technology.

Covering an area of 30 hectares in Bac Tien Phong IP, Stavian Quang Yen Petrochemical Plant has an estimated total investment of $1.5 billion and a production capacity of 600,000 metric tonnes of polypropylene per year.