Vietnam's Deputy Prime Minister has agreed in principle to allow the Vietnam National Petroleum Corporation (Petrolimex) to go ahead with the Nam Van Phong Petrochemical Complex project. Petrolimex has been authorized to make a feasibility study into the project with a focus on the long-term impact on the environment, modern technologies, capital resources, and selection of partners, especially those involved in supplying crude oil. The Nam Van Phong Petrochemical Complex will be located in My Giang commune, Khanh Hoa province with a planned capacity of 200,000 bpd. The project funded with preliminary investment capital of VND4.4-4.8 billion, is expected to put into operation in late 2013.
An outline of necessary procedures to adjust the provincial socio-economic development plans, and plans to use land and seaports to help investors implement the project is to be submitted by the south central Khanh Hoa provincial People's Committee and the management board of the Van Phong Economic Zone; to relevant agencies and the Government.
23-Dec-08 
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