|
Vung Ang oil storage depot inaugurated
PetroVietnam opened its Vung Ang oil storage unit in the central coastal province of Ha Tinh at last weekend.
The facility, which has been under construction since October 2007, will store 60,000 cu. m of oil and gas in the first phase and 110,000 cu.m by 2015, which makes it the biggest in the central coastal province.
PetroVietnam Oil Corporation CEO Nguyen Xuan Son said the storage facility would become the major supplier of oil and gas for the northern central provinces like Nghe An, Ha Tinh or Quang Binh, as well as the Vung Ang economic zone and the border gates of Cau Treo and Cha Lo.
Its operation would help settle petroleum prices nation-wide and region-wide, Son said.
Ha Tinh People's Committee chairman Vo Kim Cu said the storage facility would contribute to the provincial budget, create more employment in the area and ensure the security of regional energy.
Permanent Deputy Prime Minister Nguyen Sinh Hung cut the ribbon at the opening ceremony.
The oil storage area covers 8ha. The major investor is Vung Ang Petroleum and Oil Company, with a total registered investment of VND260.7 billion (US$12 million).
The first phase drew VND257 billion ($11.8 million) in investment and included a 15,000 dead weight tonnage seaport. The storage is expected to provide the market with almost 300,000cu m of petroleum this year and to contribute over VND100 billion ($4.7 million) to the State budget.
vietnamnews
|
