PV Oil unit to build petrol depot

PetroVietnam Oil Stockpile Co. Ltd. (PVOS), an affiliate of PetroVietnam Oil Corp. (PV Oil), will build an underground petrol depot costing US$340 million in the central province of Quang Ngai this year. The facility, to be located in Dung Quat economic zone, will have a storage capacity of 600,000 cubic meters of gasoline in the first phase, the Voice of Vietnam Radio (VOV) said. The 38-hectare depot is scheduled for completion in the third quarter of 2012. Its capacity will be raised to between one million and two million tons in the second stage. (February 10, 2010)