Vietnam’s largest oil refinery project to be signed in October

Vietnamese and foreign partners are preparing for the signing of an engineering, procurement and construction (EPC) contract for the Nghi Son refinery and petrochemical complex expected to be the largest of its kind in Vietnam. Cao Hoai Duong, deputy director of the Nghi Son Oil Refinery and Petrochemical Ltd. Co., says many contractors from Japan, Korea, Italy and the United States, have put in bids for the project. The project will be located in the Nghi Son Economic Zone in Thanh Hoa province, about 150 kilometers south of Hanoi. It has an estimated capital of US$6.2 billion contributed by the Vietnam National Oil and Gas Group, the Kuwait Petroleum International, Japan’s Idemitsu Kosan Ltd. Co. and Japan’s Mitsui Chemicals Inc. This petrochemical complex will be designed to produce 10 million tons of petroleum products a year, 1.5 times bigger than the design capacity of the existing Dung Quat oil refinery. Once it is operational in 2014, the refinery will annually churn out 2.3 million tons of petrol, 3.7 million tons of diesel fuel and a significant amount of liquefied gas (LPG) for domestic use. (June 22, 2010)