Kuwait to build Vietnam’s second oil refinery

Kuwait Petroleum International (KPI) will build Vietnam’s second oil refinery and will receive funding for the project from the International Finance Corporaion (IFC). KPI Chairman Hussein Ismail said that the construction of the US$6.2 billion Nghi Son oil refinery is part of Kuwait’s strategic plan to invest in East Asian large–scale refining and petrochemical projects. Kuwait Petroleum and PetroVietnam, together with Japanese partners Idemitsu Kosan and Mitsui Petrochemical will supervise the project. This is the second oil refinery that KPI has set up in Vietnam. The new refinery will be located some 200 km south of Hanoi. The projected daily capacity of the plant is 200,000 barrels per day. The plant will be operational by 2015. (October 1, 2011)