VietnamPMOKsLand to Oil Refinery, Petrochemical Projects in Central Vietnam
Vietnamese Prime Minister Nguyen Tan Dung has recently approved 3,070 hectares for an oil refinery, a petrochemical industrial park and Phu Yen Naphtha Cracking petrochemical complex in central Phu Yen province, state media reported, citing the government sources.
Of the total, 410 ha is to build a US$1.7-billion Vung Ro oil refinery in Hoa Tam commune of Dong Hoa district, Phu Yen province by a joint venture between Technostar Management Ltd. of the U.K. and Russias Telloil.
Meanwhile, 2,600 ha was approved for infrastructure construction of US$11-billion Hoa Tam petrochemical industrial park and Phu Yen Naphtha Cracking petrochemical complex, which is invested by Singapore&rsquos SP Chemicals.
The rest of the land will be allocated to Hoa Tam resettlement project.
The aforementioned projects will be added to lists of works using land between 2006 and 2010 of Phu Yen province.
Vietnam now has no oil refineries. The first Dung Quat is under construction in central Quang Ngai province with expected operation in next February.
The country was estimated to have spent US$5.92 billion importing 6.81 million metric tons of petroleum products in the first six months of 2008, up 68.9 per cent on year and 4.42 per cent, respectively. (Vietnam Economic Times, Investment)
Vietnamese
