It is reported that the Vietnamese state-owned oil company Petrovietnam has decided to build the country's largest petrochemical Commonwealth. The consortium will invest more than 10 billion U.S. dollars, will include a refinery and a chemical plant. The first construction work started in 2011, is expected to put into operation in 2014.
Petrovietnam will choose in the autumn of foreign joint venture partners to operate the refinery, chemical plant for the company has decided to Thailand Siam Cement Group and other partners work together to invest in the construction. It was learned that the Commonwealth will be built in about 100 km from Ho Chi Minh City Department of Ba Ria-Vung Tau province of Long Son district.
It is reported that the refinery will be Vietnam's third oil refinery, the design of crude oil processing capacity of 20 million barrels / day of crude oil imports from all. The Commonwealth will produce gasoline, diesel and liquefied petroleum gas. Petrovietnam is currently being conducted with a number of foreign companies to negotiate the final joint. Will in the third quarter or fourth quarter at the end of the beginning of the decision.
At present in Vietnam, almost all of petrochemical products from Singapore, Thailand and Taiwan. Vietnam if the current two existing refineries, and the third set of new oil refineries at full capacity production, Vietnam's petrochemical products needed to achieve self-sufficiency.
Aug. 4, 2009
