Vietnamese and overseas partners are preparing to sign an Engineering, Procurement and Construction (EPC) contract for the Nghi Son refinery and petrochemical complex. Value of the contract is to be made public in October 2010 for the largest EPC petrochemical project in Vietnam. An estimated capital of US$6.2 bln is to be contributed by Vietnam National Oil and Gas Group (PVN), Kuwait Petroleum International (KPI), Japan’s Idemitsu Kosan Ltd. Co. (IKC) and Japan’s Mitsui Chemicals Inc. (MCI).
In the meantime, the project management unit continues to work closely with the Thanh Hoa provincial people’s committee to relocate local residents, as well as with the PetroVietnam Construction Joint Stock Corporation to clear unexploded ordnance and level off 390ha of land to be handed over to contractors in early October.
This petrochemical complex will be designed to produce 10 mln tpa of petroleum products – 1.5 times higher than the design capacity of the existing Dung Quat oil refinery. Nghi Son and Dung Quat refineries together are expected to meet 50 percent of the country’s demand for petrol and oil.