Kuwait Petroleum International to receive funding for US$6.2 bln Vietnam refinery

03-Oct-11
Kuwait Petroleum International (KPI) will receive funding from the International Finance Corporation (IFC) to build Vietnam's second oil refinery, as per Kuna. The US$6.2 bln Nghi Son oil refinery is part of Kuwait's strategy to invest in large-scale refining and petrochemicals projects in East Asia. The refinery project is jointly supervised by KPI and PetroVietnam company with Japanese partners Idemitsu Kosan and Mitsui Petrochemical. The project is expected to be completed and ready for operation in 2015, and will also include a petrochemical complex, energy facilities, pipeline and storage systems, and an informatics system. In addition to LPG, unleaded gasoline, kerosene, jet fuel, and diesel, the refinery is set 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.
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