Nghi Son refinery deal ready to sign

Tuesday, June 22, 2010 15:49

Vietnamese and foreign partners are making preparations for the signingof an engineering, procurement and construction contract for the NghiSon refinery and petrochemical project, the largest of its kind inVietnam.

Cao Hoai Duong, deputy director of the Nghi SonOil Refinery and Petrochemical Ltd Co, said that many contractors fromJapan , the Republic of Korea , Italy and the US have put inbids for the project.

"Although the value of the contractwill only be made public in October, it will be the largest EPCpetrochemical project in Viet Nam ," said Duong.

TheNghi Son project's management board is working closely with the ThanhHoa provincial People's Committee to relocate local residents, and withPetroVietnam Construction Joint Stock Corporation to clear unexplodedordnance and level off 390ha of land to be handed over to contractors inearly October.

The project will be located in the NghiSon economic zone in the central province of Thanh Hoa . It hasan estimated capital of 6.2 billion USD contributed by the Viet NamNational Oil and Gas Group, the Kuwait Petroleum International, Japan'sIdemitsu Kosan Ltd Co and Japan's Mitsui Chemicals Inc.

The Nghi Son project will have a designed capacity of 10 million tonnesof crude oil a year or 200,000 barrels a day, 1.5 times higher than thecapacity of the existing Dung Quat oil refinery.

Once itis operational in 2014, the refinery will annually churn out 2.3 milliontonnes of petrol, 3.7 million tonnes of diesel and a significant amountof liquefied gas for domestic use./.

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