New gas storage unit opens

Minh Quang Hai Phong liquefied petroleum gas (LPG) storage facility, valued at VND580 billion (US$32.6 million), will begin operation on Friday in northern Hai Phong’s Dinh Vu Industial Zone.

The project, financed by the Minh Quang Investment Co., Ltd. covers an area of 2.28ha. It has a capacity to store 5,000 tonnes of LPG this year the capaccity will be increased to 10,000 tonnes by 2013.

"LPG is a new resource widely used in many fields. Along with the development of key sectors in Viet Nam, the country’s demand for LPG has been increasing," said Minh Quang Investment Co.,Ltd. Director Nguyen Anh Quang.

It was predicted that LPG consumption would reach 1 million tonnes next year. However, LPG storage depots in the north could not satisfy demand as most of them were only able to store up to 1,000 tonnes, he said.

"Minh Quang Hai Phong’s LPG operation will boost the development of the LPG sector, expand LPG distribution capacity in the northern region and contribute to the growth of other economic fields," Quang said.

The new facility is the second biggest of its kind in Viet Nam, after LPG Vung Tau.

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