Idemitsu to start selling products in Vietnam

Japan’s Idemitsu Kosan Co. will start selling petroleum products, such as gasoline, in Vietnam in fiscal 2011 at the earliest, according to Jiji Press. It will be the first time for a foreign company to sell such products in the country. Approval is set to be granted after Idemitsu decided to invest in a project to construct a refinery in Nghi Son, northern Vietnam, alongside a number of companies, including state-run PetroVietnam. After the refinery starts operations in 2014, Idemitsu plans to sell the domestically made products in Vietnam. The company will consider collaborating with local companies that manage gas stations and tie-up with Japanese logistic firms that operate in the country, including Nippon Express Co. (August 5, 2010)