State oil and gas giant PetroVietnam plans to establish a joint venture (JV) next year to develop a US$3 bln petrochemical complex including the long-planned Nghi Son oil refinery. Capacity at the plant will include 300,000 tons of polyester and polypropylene a year.
Japan's Idemitsu Kosan Co., Ltd. has emerged as a major potential JV partner, though the company is also looking at foreign consortiums from other countries like the United States and Russia. A working group of PetroVietnam will organize a workshop in USA to introduce Vietnam's oil refinery and petrochemical development strategy, including the promotion of the Nghi Son complex.
The feasibility study for the 7 mln tons complex in Nghi Son Industrial Zone is under review by Idemitsu Kosan and PetroVietnam. Majority of the feedstock (crude oil) will be imported from the Middle East. Balance of the feedstock will be supplied by Su Tu Den oilfield , which currently produces around 70,000 bpd.
22-Jun-06 
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