Construction of the Nghi Son refinery and petrochemical project in the Nghi Son Economic Zone, the central province of Thanh Hoa, is scheduled to begin on October 23.

The over-9-billion-USD refinery is a joint venture between the Vietnam National Oil and Gas Group, the Kuwait Limited Liability Company of Kuwait, and Idemitsu Kosan Co., Ltd and Mitsui Chemicals Inc of Japan.

With a designed capacity of processing 10 million tonnes of crude oil per year, the refinery will use crude imported from Kuwait to produce several petroleum products such as diesel and jet fuel, and petrochemicals such as polypropylene and benzene.

The new refinery, the second of its kind after the Dung Quat refinery in the central province of Quang Ngai, is listed by the Government as a strategic project.

As the largest foreign-invested project in Vietnam, the refinery plays an important role in ensuring national energy security, especially petroleum products.

It is also expected to help lure more foreign investors to Vietnam, particularly those from Kuwait and Japan.
As scheduled, Thanh Hoa province will organise a trade promotion conference on October 23-24 to introduce its socio-economic development strategy to 2020 with a vision towards 2030 as well as its incentives for foreign investors.-VNA