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EPC Contract For Vietnam’s Largest Oil Refinery Venture Signed

VietNamNet Bridge – The signing ceremony of the EPC contract for the Nghi Son oil refinery undertaking with a complete funding of $ 9 billion came about this morning, January 27, petrochemical technology seminar topics in Thanh Hoa province, within the presence of Prime Minister Nguyen Tan Dung.

Prime Minister Nguyen Tan Dung attended the signing ceremony in Thanh Hoa in the present day.
The contract was signed between the Nghi Son Petrochemical Co. Ltd. and a gaggle of design, gear provide and building contractors, after practically five years of preparation.

The Nghi Son oil refinery is a nationwide key mission, covering an space of 400 hectares within the Nghi Son economic zone (Tinh Gia, Thanh Hoa). The refining capability is expected to reach 200,000 barrels per day (equal to 10 million tons a year,) with crude oil imported from Kuwait as uncooked materials. The plant’s merchandise include liquefied petroleum gasoline, gasoline RON ninety two and RON 95, jet gas, diesel, paraxylene …

The whole funding of this venture is almost $9 billion, petrochemical technology seminar topics in which loans from home and foreign banks are anticipated to be almost $5 billion. The remaining is the capital of the buyers, together with the Vietnam Oil and Gas Group (PVN) with 25.1%, the Kuwait Petroleum International (KPI/KPE) 35.1%, Idemitsu Kosan Co. (Japan, IKC) 35.1%, and Mitsui Chemicals (Japan, MCI) 4.7%.