The Khang Thong Group on August 10 signed a feasibility study contract for the 972 million USD Binh Dinh Thermal Power Plant (phase I) with the Zarubezhenergoproekt Group of Russia.

Under the contract, the 700 MW-plant will be built on an area of more than 90 ha at the Nhon Hoi Economic Zone in the Central province of Binh Dinh . Its construction is scheduled to begin in the second quarter of 2012 and put into operation by 2015.

On the same day, Khang Thong also signed a technical design agreement to establish a joint venture to build the Binh Dinh Oil Refinery with the STFE Group and the PTT Energy Solutions Company Limited (PTTES) of Thailand .

The oil refinery, with a capacity of 12 million tonnes per year, will be also built at the Nhon Hoi Economic Zone.

According to the Khang Thong Group, Nhon Hoi was a multi-sector economic zone, including non-tariff areas, industrial parks, seaports and seaport service areas.

Investment in the oil refinery industry in Nhon Hoi will bring new progress in utilising local resources and supply fuel for domestic and foreign markets./.