Thailand's largest oil and gas conglomerate is considering building a petrochemical and oil refinery complex in Binh Dinh Province’s Nhon Hoi Economic Zone.
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Nhon Hoi Economic Zone |
Sukrit Surabotsopon, Senior Executive Vice President of Petrochemicals & Refining Business Unit at PTT Public Co. Ltd, presented a pre-feasibility study to provincial leaders in Quy Nhon city on November 22.
Under the plan, PTT PLC is considering building a refinery with a capacity of 660,000 barrels a day (about 36 million tons per year). The project is estimated to cost 28.7 billion USD, contributed by PTT, Vietnamese businesses and other partners, such as state-run Vietnam Oil and Gas Group, or PetroVietnam, Vietnam National Petroleum Corp., or Petrolimex, and Military Petroleum Corp.
Construction would likely begin in 2016 and the refinery would become operational in 2019, according to chairman of Binh Dinh province's People's Committee Le Huu Loc.
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