Vietnam considers refinery and petrochemical project

Complex could be built by Thailand’s PTT.

PTT’s Vietnam refinery project will rise in the central Vietnamese province of Binh Dinh. Vietnamese Prime Minister Nguyen Tan Dung has agreed in principle to the construction of the huge refinery and petrochemical complex in the Economic Zone of Nhon Hoi.

Deputy Prime Minister Hoang Trung Hai signed a document allowing the Binh Dinh provincial government to ask PTT to carry out a feasibility study for the project.

The feasibility study will be submitted for evaluation by the industry and environment ministries before it being sent to the prime minister for approval.

Construction of the refinery is expected to begin in 2016 with commercial output starting in 2020. The refinery will have a capacity of 660,000 barrels per day or 36 million metric tons per year.

Total project cost is estimated at around US$27 billion. That huge cost has raised concerns in Vietnam that PTT, whose 2012 net profit was US$4.2 billion on revenues of US$93 billion, might be unable to finance the project.

Also Read

ADB grants $15m to boost Tajikistan’s grid upgrade

Eco Wave enters Asian market with onshore wave project in Taiwan

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit