(Reuters) - A private Vietnamese petrochemicals firm is planning to invest $1.5 B in a polypropylene plant in the northern province of Quang Ninh, the country's ruling Communist Party announced.

Stavian Quang Yen Petrochemical JSC would start commercial operations at the plant from the fourth quarter of 2026 and would produce 600,000 tons of polypropylene annually, the party said on its news website.

The plant would supply products to manufacturers of home appliances, automobiles, electronics and medical equipment, it said.

State media reports said Stavian Quang Yen Petrochemical, established in 2021, is a joint venture between Stavian Chemical and Yen Hung Liquid Port JSC.