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Binh Dinh’s authorities and The Petroleum Corporation of Thailand (PTT) planned to submit the proposal for building a giant oil refinery and petrochemical complex to the Ministry of Industry and Trade on January 10.
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Vice Chairman of Binh Dinh People’s Committee Ho Quoc Dung (central) at the forum held in HCM City on January 5, 2013. Photo SGT |
Binh Dinh’s Vice Chairman Ho Quoc Dung revealed the information at the “Challenges and Opportunities for businesses” forum held in HCM City on Jan.5.
Binh Dinh’s authorities December 25 submitted the documents to the PM for consideration.
Dung said Binh Dinh’s leadership and PTT had talked about the project for 3 years before the investor decided to build the complex in Nhon Hoi Economic Zone, a strategic venue in Binh Dinh.
The plant will be built on an area of 2,000 hectares with the total investment capital of nearly US$26.9 billion.
Construction would likely begin in 2016 and the refinery would become operational in 2019, generating about 660,000 barrels per day, accoding to Dung. The crude oil is expected to be imported from Middle East, Africa, and South and Central America.
Dung said that the complex is considered one of key projects playing as a driving force for the province’s economy.
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