Vietnam’s energy sector is attracting special attention from foreigninvestors, especially leading global groups in this field, the VietnamEconomic News reported on June 11.
Among them, a typical exampleis Samsung Group from the Republic of Korea (RoK) which has investednearly 6 billion USD in mobile phone production in Bac Ninh and ThaiNguyen provinces. In early March 2014, in a talk with Vietnam EconomicNew, Deputy Director of Samsung Vina Electronics Nguyen Van Dao said atpresent Samsung is working with the Vietnamese Government to expandinvestment to other areas like thermal-power and oil refinery inVietnam.
Most recently, in late May 2014, at a meeting withDeputy Minister Hoang Trung Hai, Shin Kim, General Director of Samsung’sGlobal Strategy Office, expressed his expectation to undertakeinvestment in a series of major projects in Vietnam, including those inthe energy sector like the Vung Ang 3 Thermal-power project in Vung AngEconomic Zone in Ha Tinh province or Long Son oil refinery project (VungTau province). It is said that these projects are worth billions ofdollars and are being pursued by Samsung.
Another big projectunder prompt preparations for investment in Vietnam’s energy sector isThailand’s oil and gas group PTT’s Nhon Hoi oil refinery project. Thisproject is expected to be built in the Nhon Hoi Economic Zone in thecentral coastal province of Binh Dinh on total area of over 2,000 hawith the capacity of producing 660,000 barrels per day, equivalent to 30million tonnes of crude oil per year. According to a plan, the refineryis estimated to cost 27 billion USD.
Talking with VietnamEconomic New, head of the Management Board of Binh Dinh’s Economic ZoneMan Ngoc Ly said the PTT is a global oil refinery group which ranked81st among top 500 companies in the world by revenues in 2013, accordingto Fortune magazine.
To show its commitment to this project, thePTT at the same time chose four experienced and prestigious consultantsto set up the project. Since August 2013, it has continually sentdelegations to assess the environmental impact, conducted geographicaland marine surveys in a bid to complete a feasible draft project forsubmission to the Government. If nothing changes, by the third quarterof 2015 the giant oil refinery and petrochemical project will be builtand it will turn out the first products by 2018.
According toVice Chairman of the Vietnam Association of Foreign-invested EnterprisesNguyen Van Toan, apart from Samsung and the PTT, US energy groupExxonMobil is also planning to invest in a gas and power complex inQuang Ngai province with total registered capital of 20 billion USD.Toan also said that Quang Ngai’s local authorities are also excited asthey prepare for negotiations with investors.
In 2013, the NghiSon refinery-petrochemical project in Nghi Son Economic Zone in centralThanh Hoa province - a joint venture between Vietnam Oil and GasCorporation, Kuwait Petroleum International, Japan’s Idemitsu Kosan CoLtd and Mitsui Chemicals Inc. - also increased its capital by 2.8billion USD to raise the total capital to 9 billion USD. That once againproved the attractiveness of Vietnam’s energy sector to foreigninvestors.-VNA
Among them, a typical exampleis Samsung Group from the Republic of Korea (RoK) which has investednearly 6 billion USD in mobile phone production in Bac Ninh and ThaiNguyen provinces. In early March 2014, in a talk with Vietnam EconomicNew, Deputy Director of Samsung Vina Electronics Nguyen Van Dao said atpresent Samsung is working with the Vietnamese Government to expandinvestment to other areas like thermal-power and oil refinery inVietnam.
Most recently, in late May 2014, at a meeting withDeputy Minister Hoang Trung Hai, Shin Kim, General Director of Samsung’sGlobal Strategy Office, expressed his expectation to undertakeinvestment in a series of major projects in Vietnam, including those inthe energy sector like the Vung Ang 3 Thermal-power project in Vung AngEconomic Zone in Ha Tinh province or Long Son oil refinery project (VungTau province). It is said that these projects are worth billions ofdollars and are being pursued by Samsung.
Another big projectunder prompt preparations for investment in Vietnam’s energy sector isThailand’s oil and gas group PTT’s Nhon Hoi oil refinery project. Thisproject is expected to be built in the Nhon Hoi Economic Zone in thecentral coastal province of Binh Dinh on total area of over 2,000 hawith the capacity of producing 660,000 barrels per day, equivalent to 30million tonnes of crude oil per year. According to a plan, the refineryis estimated to cost 27 billion USD.
Talking with VietnamEconomic New, head of the Management Board of Binh Dinh’s Economic ZoneMan Ngoc Ly said the PTT is a global oil refinery group which ranked81st among top 500 companies in the world by revenues in 2013, accordingto Fortune magazine.
To show its commitment to this project, thePTT at the same time chose four experienced and prestigious consultantsto set up the project. Since August 2013, it has continually sentdelegations to assess the environmental impact, conducted geographicaland marine surveys in a bid to complete a feasible draft project forsubmission to the Government. If nothing changes, by the third quarterof 2015 the giant oil refinery and petrochemical project will be builtand it will turn out the first products by 2018.
According toVice Chairman of the Vietnam Association of Foreign-invested EnterprisesNguyen Van Toan, apart from Samsung and the PTT, US energy groupExxonMobil is also planning to invest in a gas and power complex inQuang Ngai province with total registered capital of 20 billion USD.Toan also said that Quang Ngai’s local authorities are also excited asthey prepare for negotiations with investors.
In 2013, the NghiSon refinery-petrochemical project in Nghi Son Economic Zone in centralThanh Hoa province - a joint venture between Vietnam Oil and GasCorporation, Kuwait Petroleum International, Japan’s Idemitsu Kosan CoLtd and Mitsui Chemicals Inc. - also increased its capital by 2.8billion USD to raise the total capital to 9 billion USD. That once againproved the attractiveness of Vietnam’s energy sector to foreigninvestors.-VNA
