Construction of Vietnam's largest oil refinery complex is expected to start this quarter, says PetroVietnam's chairman Phung Dinh Thuc.
Preparatory work for the construction is virtually completed and there are only a few details to be discussed among investors including PetroVietnam, Kuwait Petroleum International, Japan's Idemitsu Kosan Co and Mitsui Chemicals, Thuc added.
Total capital investment for the refinery project is worth nearly 8 billion USD.
The refinery will be built in the central province of Thanh Hoa, 215km south of Hanoi and will initially have a production capacity of 10 million tonnes per year.
Dung Quat refinery, built in the country's central coast to process 130,500 barrels per day of crude oil, is now Vietnam's sole operating facility.
Together with Dung Quat refinery, Nghi Son plant is expected to provide roughly 50 percent of Vietnam's gasoline demand, said Vietnam Economic Times.
