Construction of Vietnam’s largest oil refinery complex is expected to start this quarter, says PetroVietnam’s chairman Phung Dinh Thuc, according to Vietnam media reports.
Total capital investment for the refinery project is worth nearly $8 billion and it will initially have a production capacity of 10 million tonnes per year. The refinery project will also include petrochemical complex, energy facilities, pipeline and storage systems, and an informatics system. In addition to LPG, unleaded gasoline, kerosene, jet fuel, diesel and FO, the refinery is projected to produce bitumen, propylene and BTX as a raw material for the petrochemical industry.
The refinery will be supplied with crude oil imports from Kuwait.
Dung Quat refinery, built in the country’s central coast to process 130,500 barrels per day of crude oil, is now the country’s sole operating facility.
Together with Dung Quat refinery, Nghi Son plant is expected to provide roughly 50 per cent of Vietnam’s gasoline demand, Vietnam Economic Times reports.
The project is developed by consortium of international companies. Petrovietnam holds 25.1%, Idemitsu Kosan and Kuwait Petroleum International each hold a 35.1% each, and Mitsui Chemicals has the remaining 4.7% of shares
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