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Work starts on Vung Ro refinery in Phu Yen province

20/01/2016 16:24 PM - About HLC

 

The ground-breaking ceremony of the Vung Ro refinery project

Nhan Dan Online - Work to build the US$3.2 billion Vung Ro Refinery in central Phu Yen province’s Dong Hoa district started on September 9.

The project includes 538 hectares of ground area for Bai Goc Port and a refinery with an annual capacity of 8 million tonnes, as well as around 500 - 1,300 hectares of water surface for other facilities.

This is the largest foreign direct investment project in Phu Yen province and is expected to be put into operation in 2017.

Invested in by the UK’s Technostar Management and Russia’s Telloil through the Vung Ro Petroleum Company, it is one of three oil refinery projects in Vietnam, in addition to Dung Quat refinery in Quang Ngai province and Nghi Son refinery in Thanh Hoa province.

Dung Quat refinery has been in operation since 2009 while Nghi Son refinery is under construction and is scheduled to be completed in 2017.

The plant will employ US technology to refine crude oil from Russia and the Middle East into useful petrochemical products such as RON 92 and RON 95 petrol, aviation fuel, and liquefied petroleum gas.

The project will also be a centre for storage and distribution of crude and refined oil products with the completion of the Bai Goc Port.

Vung Ro Petroleum Company CEO Kirill Korolev was quoted by the Voice of Vietnam as saying that the project would provide a boost to the economic development of Phu Yen province.

During a Government meeting in January, Prime Minister Nguyen Tan Dung said the project would bring about a positive impact on Phu Yen province’s industrialisation and modernisation drive.

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