A five-company consortium led by Japan 's JGC Corp. has won theexclusive right to negotiate a contract to build Vietnam 's largestrefinery in the country's northern province of Thanh Hoa, informallysecuring the contract, a Japanese media report said.
The JGC-led group and another consortium led by Italian plantengineering company Saipem S.p.A. competed for the lucrative bid, theJapanese economic daily of Nikkei reported, adding that the bidsolicitor favored the JGC-led consortium due to JGC's experience inundertaking projects in Vietnam.
The consortium,which also includes Japan 's Chiyoda Corp., the French firm ofTechnip, and Republic of Korea ’s groups SK and GS, is expected tosign a formal contract at the end of February after the bid solicitormakes the final assessment of the technological expertise of thecompanies involved.
The project will be investedby a four-company group consisting of Vietnam Oil and Gas Corp.(PetroVietnam), Idemitsu Kosan Co. and Mitsui Chemicals Inc. of Japan,and Kuwait Petroleum International Ltd. at an estimated cost of 8billion USD, of which the bid solicitor will finance 30-40 percent fromtheir own money, whille the remainder will be funded by loans from bothgovernment-affiliated and private banks, including the Japan Bank forInternational Cooperation (JBIC).
Once completed bythe end of 2014, the refinery will have the capacity to process 200,000barrels of crude oil a day imported from the Middle East , turning outsuch petrochemical products as gasoline, diesel oil, kerosene, jet fueland polypropylene./.
The JGC-led group and another consortium led by Italian plantengineering company Saipem S.p.A. competed for the lucrative bid, theJapanese economic daily of Nikkei reported, adding that the bidsolicitor favored the JGC-led consortium due to JGC's experience inundertaking projects in Vietnam.
The consortium,which also includes Japan 's Chiyoda Corp., the French firm ofTechnip, and Republic of Korea ’s groups SK and GS, is expected tosign a formal contract at the end of February after the bid solicitormakes the final assessment of the technological expertise of thecompanies involved.
The project will be investedby a four-company group consisting of Vietnam Oil and Gas Corp.(PetroVietnam), Idemitsu Kosan Co. and Mitsui Chemicals Inc. of Japan,and Kuwait Petroleum International Ltd. at an estimated cost of 8billion USD, of which the bid solicitor will finance 30-40 percent fromtheir own money, whille the remainder will be funded by loans from bothgovernment-affiliated and private banks, including the Japan Bank forInternational Cooperation (JBIC).
Once completed bythe end of 2014, the refinery will have the capacity to process 200,000barrels of crude oil a day imported from the Middle East , turning outsuch petrochemical products as gasoline, diesel oil, kerosene, jet fueland polypropylene./.
