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Government okays Van Phong oil refinery   2009-01-11 - VOV

Van Phong Bay.

The Government has approved the construction of a US$4.5 billion petrochemical and oil refinery complex in Van Phong Bay’s economic zone in the south central province of Khanh Hoa.

The complex, which will be located in Ninh Phuoc Commune, Ninh Hoa District, is expected to refine 10 million tonnes of oil per year. Its total area will be 600ha, located both on land and sea.

Deputy Prime Minister Hoang Trung Hai appointed the Vietnam National Petroleum Corporation (Petrolimex) to outline the investment project and make the feasibility report, which must focus on environmental protection, proper technology, capital, construction partners and long-term crude oil providers.

He also asked Khanh Hoa province’s authorities to support investors in dealing with administrative procedures.

Once completed in 2013, the complex will produce liquefied petroleum gas, petrol, gasoline, diesel oil, benzene, polypropylene and sulfur.

At present, construction is planned for six oil refinery units, including the one at Van Phong Bay. The seventh one, located in the central province of Quang Ngai, is expected to begin operations in late February.

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