Construction commences on US$9 bln Nghi Son refinery and petrochemical complex in Vietnam

28-Oct-13

Construction has commenced on a US$9 bln Nghi Son refinery and petrochemical complex in the central province of Thanh Hoa, Vietnam's largest-ever FDI project so far. The project is a joint venture between PetroVietnam with a 25.1% stake, Kuwait Petroleum International with 35.1%, Japan's Idemitsu Kosan with 35.1% and Mitsui Chemicals with 4.7%. The project, upon completion is expected to meet 70% of Vietnam’s domestic demand for energy in the future, with an annual capacity of 10 mln tons of crude oil- about 200,000 bpd. First phase of the project is scheduled for completion by 2017. Plant capacity will include 2.3 mln tpa of gasoline, 2.9 mln tpa of diesel, 380,000 tpa of polypropylene, 900,000 tpa of aviation turbine fuel and nearly 700,000 tpa of other liquified petroleum gas (LPG).