Chairman of provincial People’s Committee Le Huu Loc received the STFE Co., Ltd’s CEO Viravat Chovanich in Quy Nhon on December 27.
Two sides signed the Memorandum of Understanding on the oil refinery and thermoelectric plant projects implemented in the Nhon Hoi Economic Zone.
Accordingly, STFE Co., Ltd will speed up the progress of oil refinery project which is designed to have a capacity of 3 tons per year in the first phase.
The construction of the oil refinery is expected to kick off after the formalities are completed.
The company also agreed to build a 700-MW thermoelectric plant at the non-tariff zone. The project worth US$850 million will be carried out at the same time or after the oil refinery construction kicks off.
| 
