Signing the documents on the investment cooperation for the Southern Refinery Complex

Signing the documents on the investment cooperation for the  Southern Refinery Complex - 

On March 29, 2017, in Hanoi, Long Son Petroleum Company Ltd (LSP) signed the documents on a Join Contract, Company Charter and a Contract of contributed capitals transfer from Qatar Petroleum Company (QPIV) to Thailand Siam Cement Group (SCG).

Mr. Nguyen Vu Truong Son, PVN Chairman and Mr. Dhep Vongvanich, Vina SCG General Director sign the documents.

In this occasion, PV Gas, a member of PetroVietnam has issued a letter to commit guaranteeing Ethane for the Southern Refinery Complex.

Speaking at the signing ceremony, Mr. Phan Dinh Duc, the member of PVN Member Council expressed, the Southern Refinery Complex is a petroleum focusing project in Vietnam with a largest in Vietnam so far, capacity of 1.6 million ton of olefin per year and an investment level of about USD 5.4 billion.

The equipment of Southern Refinery Complex Project has the advanced and modern technologies to meet the requirements on environmental protection and high quality of the products as PP and PE… The project will create about 15,000 – 20,000 jobs during development process and 1,000 jobs during the commercial operation and contribute about USD 115 million per year to budget of Vung Tau province during 30 operation years.

“That the documents have been signed makes a decisively important milestone for developing project and putting it into operation by 2021”, Mr. Phan Dinh Duc emphasized.

After the signing ceremony, Long Son Petrochemical Company Ltd will deploy the necessary activities to complete and put it into commercial operation in time as the plan, agreed by the parties.

The Southern Refinery Complex occupies an area of 464 ha in Long Son Petroleum Industrial Zone (Vung Tau city), of which 398 ha for 10 refinery plants with a capacity of 2.7 million ton of material per year each and 66 ha for a port.

The project has been licensed since 2008, but in project implementation, the Qatar partner withdrew from project in 2015, that had a considerable impact on process of the project.

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