Binh Dinh provincial leaders and project investor are expected to report to the Minstry of Industry and Trade about the oil refinery project worth USD27 billion at Nhon Hoi Industrial Zone in Binh Dinh Province in the next week.
At the forum “Challenges and Opportunities for businesses in 2013” held in Ho Chi Minh City on January 5th, Mr Ho Trung Dung - Vice Chairman of Binh Dinh People's Committees said that he and the investor of the Petroleum Corporation of Thailand (PTT) are going to meet the headers of Ministry of Industry and Trade on January 10th for oil refinery project reporting.
Mr Dung told that PTT has been negociated with Binh Dinh province within three years. Initially, they plans to invest in the south of Thailand, but they then want to build the project in other country in Southest Asia such as Malaysia, Myanmar or Vietnam in order to avoid the unrest in their country. Finally, they decided to choose Nhon Hoi economic zone, Binh Dinh (Vietnam) as the destination because of available land and deepwater port.
But Mr Dung stressed that due to the large-scale of project with nearly USD27 billion, has been caused doubt about its feasibility, but the largest oil and gas group of Thailand committed to perform it entirely.
After a long time of researching, surveying and setting the reports, in last November PTT has directly report the refinery and petrochemical project to the leaders of Binh Dinh province. And then report has sent to the Prime Minister for consideration in December 25th.
Investor has proposed to build petrochemical refinery project, with a capacity of 660,000 barrels per day (30 million tonnes per year), on an area of 2,000 hectares, with a total investment of USD26.9 billion. The crude oil for plant will be imported from Middle East (45%), Africa (25%) and the remaining 35% from the South Central America. The plant will produce 11 refinering products (include LPG; 92-95 gasoline; Jet A1; DO…) and other 10 petrochemical products (such as LLDPE, Poly-propylene, DEG…). The main markets for consumption are Vietnam, Japan, China and other countries in region.
The Construction of project will be commenced in the first quarter of 2016 and expect to go into operation in 2019 if approved by government and all procedures comppleted.
Mr Dung added that the project plays an key role to promote the economic development of the province, attracting further investment in Nhon Hoi Economic Zone.
Xangdau.net
