Largest oil depot in Vietnam to open in April

Vietnam National Petroleum Corporation (Petrolimex), Singaporean-based PB Tankers Limited and Petrolimex Insurance JSC (PJICO) have invested a total of US$170 million to construct the Van Phong petroleum depot, which will be the largest of its kind in Vietnam. The storage facility, which will be operational in April, is located in the coastal province of Khanh Hoa and will cover 56 hectares of land and 42 hectares of surface water. The project will have a total capacity of one million cubic meters when fully operational. The depot will store petroleum products for nationwide distribution. (February 13, 2012)