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Presenting the Project of Nhon Hoi Refinery and Petrochemical Complex

Presenting the Project of Nhon Hoi Refinery and Petrochemical Complex - 

On 14th March 2014, in HCMC, Thailan Oil and Gas Corporation (PTT) reported to Binh Dinh Province People's Committee (PPC) and Ministry of Industry and Trade  on the deploying works of the Project of Nhon Hoi refinery and petrochemical complex.

At this meeting, PTT generally presented the surveying and preparating works of the project for examination and comments of Binh Dinh PPP and Ministry of Industry and Trade for PTT to correct, amend and complete the Feasibility Study Report of the Project before submiting it to the Vietnamese Government in April 2014.

According to Mr. Ho Quoc Dung, Deputy Standing Chairman of Binh Dinh PPC, since getting permission from the Vietnamese Government, PTT has shown it’s determination and professional property in deployment preparation the project.

To the concrete, PTT held a bid for consulting contractors through that the world leading consultanting companies from U.S.A, Netherland…have been selected

From August 2013, PTT carried out surveys and assessments on geology, seaports, logistic transport system and environmental impact.

Mr. Dung considered that, PTT is developing the surveying and preparating works of the Project of Nhon Hoi Refinery and Petrochemical Complex very well on both quality and schedule. Previously, the project was assessed only visually, but with the studying participation of consultants, it can be confirmed that, Nhon Hoi Economic Zone concentrates optimal conditions for a refinery and petrochemical complex with a large-scale.

Mr. Dung also said: the extreme important remain regarding the project is the very desire of the investor on the Vietnamese Government to publicize the privilege policy for the Project of Nhon Hoi Refinery and Petrochemical Complex.

Although this is a large -scale project, but PTT would like the Government to apply a privilege mechanism as same as for the other ordinary projects that are undertaking in Vietnam.

The Roadmap of project implementation is as follows:

April 2014 the Feasibility Study Report submited to the Government for approvement. After the approvement, a series of following steps, especially Binh Dinh PPC hands over the ready project site to PTT

In case of nothing changed, in the third quarter 2015, the project beginning will be held and in 2018, the firt products will be given

Nhon Hoi refinery and petrochemical complex project with a total investment cost of $ 28 billion and a capacity of 660,000 barrels of crude oil/ day ( 30 million tons / year ), locates in Nhon Hoi economic zone, on a total construction area of 2,000 hectares

Crude oil for the Complex will be imported from the Middle East , Africa , South Central America. The output of the Complex consists of 21 products (11 refinery and 10 petrochemical products).

Source: Investment press/ Vietnamenergy.vn

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