Another oil refinery to get built
The Vietnam National Oil and Gas Group,
PetroVietnam, has unveiled plans to enter into a joint venture with
foreign investors to start work on the country’s third oil refinery by
September.
The Vietnam National Oil and Gas Group,
PetroVietnam, has unveiled plans to enter into a joint venture with
foreign investors to start work on the country’s third oil refinery by
September.
The list of investors has not yet been made public but a representative from the national giant said that amongst those interested in the project are the Malaysian Company Petronas, IPIC from the United Arab Emirates and the GS Group from the Republic of Korea.
The project was approved by the Prime Minister in September 2006, and the oil-rich southern coastal province of Ba Ria-Vung Tau was chosen as the site for the construction.
The joint-venture is one of three forms of investment that are permitted by the Government, including wholly foreign invested and self-invested projects.
Vietnam now boasts two oil refinery projects. The Dung Quat oil refinery in the central coastal province of Quang Ngai is already in operation, producing liquefied petroleum gas (LPG), ZA1 gas for planes and RON A92 and A95, both lead free.
The second oil refinery, located in Nghi Son in the northern province of Thanh Hoa, is in the making as contractor Foster Wheeler has finalised investment estimates and finished the ground-clearing process./.
The list of investors has not yet been made public but a representative from the national giant said that amongst those interested in the project are the Malaysian Company Petronas, IPIC from the United Arab Emirates and the GS Group from the Republic of Korea.
The project was approved by the Prime Minister in September 2006, and the oil-rich southern coastal province of Ba Ria-Vung Tau was chosen as the site for the construction.
The joint-venture is one of three forms of investment that are permitted by the Government, including wholly foreign invested and self-invested projects.
Vietnam now boasts two oil refinery projects. The Dung Quat oil refinery in the central coastal province of Quang Ngai is already in operation, producing liquefied petroleum gas (LPG), ZA1 gas for planes and RON A92 and A95, both lead free.
The second oil refinery, located in Nghi Son in the northern province of Thanh Hoa, is in the making as contractor Foster Wheeler has finalised investment estimates and finished the ground-clearing process./.
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