Singaporean firm to build oil refinery in Vietnam

A Singaporean company plans to build an oil refinery complex, with investment of US$1.2 billion in Vietnam’s central Phu Yen province, a local newspaper reported. Under a memorandum of understanding signed between the SP Chemicals Company and the provincial People’s Committee on March 30, the future refinery with an annual capacity of 1.5 million tons is scheduled to be on stream by 2012. The MOU outlines the possibility of utilizing about 1,300 hectares in Hao Tam-Vung Ro to establish a petrochemical park and complex. (April 2, 2007)