Vietnam refinery budget balloons to US$3.1 billion

The investment package for the Dung Quat oil refinery project will be increased to US$3.1 billion from the original US$2.5 billion. The budget, newly approved by the Vietnamese government, includes almost US$2.5 billion for engineering, procurement and construction (EPC) contracts, US$215.6 million for non-EPC contracts and US$200 million for working capital. The Dung Quat oil refinery plant was the first oil refinery project in Vietnam located in Binh Son district, central Quang Ngai province. Some 7,000 tons of Dung Quat’s A92 petrol was sold in the local market, followed by other products like diesel, kerosene and A1 aviation fuel. (August 21, 2009)