Vietnamese Government Approves US$4 Billion Oil Refinery

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Dec. 22 – The Vietnamese government has approved Viet Nam National Petroleum Corporation's (Petrolimex) project to build a 10 million ton oil refinery in Khanh Hoa Province.

Deputy Prime Minister Hoang Trung Hai told Vietnam News that the meeting that Petrolimex would be required to make a feasibility report for the Nam Van Phong Refinery, that should detail an assessment of its environmental impact, technologies to be used, capital structure, and selection of strategic suppliers.

The project will be located in the Van Phong Economic Zone and will be built on a 600 hectare area in My Giang Hamlet. It is scheduled to be fully-operational by the end of 2013 with a range of products spanning LPG, high-octane unleaded gasoline, kerosene, diesel, polypropylene, and benzene.

This will be the country's seventh refinery and will have a total refining capacity of close to 70 million tons annually.