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Nghi Son refinery deal ready to sign
Vietnamese and foreign partners are making preparations for the signing of an engineering, procurement and construction contract for the Nghi Son refinery and petrochemical project, the largest of its kind in Viet Nam.
Cao Hoai Duong, Deputy Director of the Nghi Son Oil Refinery and Petrochemical Co, Ltd. said that many contractors from Japan, South Korea, Italy and the US have put in bids for the project.
"Although the value of the contract will only be made public in October, it will be the largest EPC petrochemical project in Viet Nam," said Duong.
The Nghi Son project's management board is working closely with the Thanh Hoa provincial People's Committee to relocate local residents, and with PetroVietnam Construction Joint Stock Corporation to clear unexploded ordnance and level off 390ha of land to be handed over to contractors in early October.
The project will be located in the Nghi Son economic zone in Thanh Hoa Province. It has an estimated capital of US$6.2 billion contributed by the Viet Nam National Oil and Gas Group, the Kuwait Petroleum International, Japan's Idemitsu Kosan Co, Ltd. and Japan's Mitsui Chemicals Inc.
The Nghi Son refinery and petrochemical project will have a designed capacity of 10 million tonnes of crude oil a year or 200,000 barrels a day, 1.5 times higher than the capacity of the existing Dung Quat oil refinery.
Once it is operational in 2014, the refinery will annually churn out 2.3 million tonnes of petrol, 3.7 million tonnes of diesel and a significant amount of liquefied gas for domestic use.
Dung Quat and Nghi Son refineries are expected to meet 50 per cent of the demand for petrol and oil in the country.
Prime Minister Nguyen Tan Dung said at the groundbreaking ceremony in 2008 that the Nghi Son Refinery and Petrochemical Complex is one of the nation's key projects that will ensure an adequate supply of energy to the country. In addition it will promote the socio-economic development of the provinces and cities in the central part of Viet Nam and as a result the whole country in general.
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