SP Chemicals cancels $1.5b Vietnam cracker.

The article reports on the cancellation of the plan of SP Chemicals to construct a 1.5 billion U.S. dollars naphtha cracker plant in Hoa Tam in the Phu Yen province in Vietnam. SP Chemicals attributes its decision not to pursue the project to poor economic conditions. Also noted is the expectation of the company to receive supply of petrochemical feedstocks from China.