Sunday, November 25, 2007

Oil refinery complex planned for Ba Ria-Vung Tau

A US $3.7 billion project to build Long Son oil refinery complex in southern Ba Ria-Vung Tau province is awaiting investment licence, according to the Viet Nam Oil and Gas Group (Petro Vietnam).

Nguyen Viet Son, Director of Petro Vietnam’s Oil Processing Department said that his group and the Viet Nam Chemical Corporation (Vinachem) will contribute 29 percent of the total investment. The remaining 71% will be provided by two Thai partners, the Siam Cement Group (SCG) and Thailand Plastic Company (TPC).

“We are working hard with the partners on the project,” Son added.

If licensed, the project’s first phase is scheduled to complete in 2011 and the whole project, in 2013.

Once operational, the refinery is expected to employ 5,000 skilled workers.

Long Son complex will be the third large oil refinery projects in Vietnam. The two others are Dung Quat oil refinery in central Quang Ngai province and Nghi Son in central Thanh Hoa province. (VNA)