Vietnamese firm to partner with Thailand's PTT to build oil refinery

Vietnam’s Khang Thong Group will partner with Thailand’s PTTES to build an oil refinery at the Nhon Hoi Economic Zone in the central province of Binh Dinh. The refinery, which will cover 150 hectares of land at the non-tariff Nhon Hoi Economic Zone, will be developed into two phases with the capacity in the first stage of 6 million tons of crude oil and of 12 million tons in the second. Vietnam, the 13th most populous nation in the world with 86.5 million people, has only one oil refinery in the central province of Quang Ngai, the Dung Quat plant. The country plans to put into operation between six and seven oil refineries, with a combined refining capacity of between 45 million and 60 million tons of crude oil a year by 2025, to meet rising domestic demand for petroleum products. (February 9, 2012)