Formosa has renewed its commitment to develop a petrochemical and oil refinery project in Vung Ang Economic Zone in Vietnam’s central province of Ha Tinh. The US$12.4 bln project had received government approval in principle after the proposal had been passed to the Government by the Ministry of Industry and Trade and Ha Tinh province. The complex has been planned with a capacity of 300,000 bpd and 14 mln tpa of petrochemicals.
The oil refinery is planned to be located near Formosa Heavy Industries Corp’s US$7.9 billion steel project under way at the same zone. The total area for the petrochemical and oil refinery project is nearly 1,600 hectares.
27-Jul-09 
