Vietnam approves Van Phong oil refinery

The Vietnamese government has approved the construction of a US$4.5 billion petrochemical and oil refinery complex in Van Phong Bay’s economic zone, in the central province of Khanh Hoa. The Vietnam National Petroleum Corporation (Petrolimex) was tapped by Deputy Prime Minister Hoang Trung Hai to head the project and assess the feasibility of environmental protection measures, technologies, capital, construction partners and long-term crude oil providers. The complex, which will be located in Ninh Phuoc Commune, Ninh Hoa District, is expected to refine 10 million tons of oil per year. It is expected to begin operations in 2013 and will produce liquefied petroleum gas, petrol, gasoline, diesel oil, benzene, polypropylene and sulfur. (January 13, 2009)