PetroVietnam Oil to build fuel plant in Cambodia

PetroVietnam Oil Corp. (PV Oil) announced that it will build a 200,000-capacity gasoline and diesel oil plant in Cambodia. The new plant is expected to cost US$50 million. Chairman of PV Oil Le Nhu Linh said the new facility will make it easier for the company to distribute its fuels in Cambodia. The company is said to be in discussions with a Cambodian company with a fuels distribution system in place to undertake this project. PetroVietnam is the trading name of Vietnam Oil and Gas Group. The company, which is wholly owned by the Vietnamese government, has a distribution system of 72 retailers in Laos, which accounts for approximately one-third of the fuels market. (March 15, 2011)