PetroVietnam to build fuel plant in Cambodia

PetroVietnam Oil Corp. said it will build a 200,000 ton-capacity gasoline and diesel fuel plant in Cambodia. The new plant is expected to cost US$50 million. PetroVietnam Chairman 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 which has a fuel distribution system in place to undertake the project. PetroVietnam is aiming to gain a 50% market share of Cambodia’s 5-million ton fuel market by 2015. (March 15,2011)