Vietnam Govt approves construction of a US$4.5 bln petrochemical and oil refinery complex in Van Phong Bay's economic zone

13-Jan-09

The Vietnam Government has approved the construction of a US$4.5 billion petrochemical and oil refinery complex in Van Phong Bay's economic zone in the central province of Khanh Hoa, planned with a refining capacity of 10 mln tpa of oil. The Viet Nam National Petroleum Corporation (Petrolimex) has been appointed to outline the investment project and make the feasibility report, which must focus on environmental protection, proper technologies, capital, construction partners and long-term crude oil providers. The complex is expected to begin operations in 2013 and produce liquefied petroleum gas, petrol, gasoline, diesel oil, benzene, polypropylene and sulfur.