ASIA: Vietnam gets second refinery

Thai, Chinese, Australian, Malaysian and British firms will develop a multibillion-dollar crude oil refining and petrochemical complex with annual capacity of 7 million to 8.4 million tons of crude oil in Vietnam 's central Thanh Hoa province, according to China's People's Daily.

The Nghi Son complex will produce liquefied gas, unleaded petrol, kerosene, jet fuel, diesel and asphalt.

The Thai-led alliance also plans to build a purified terephthalic acid plant with annual capacity of 30,000 to 40,000 tons, a polyethylene terephthalate factory with annual capacity of 300,000 tons, a polypropylene plant with annual capacity of 10,000 tons and a xylene factory with annual capacity of 400,000 tons.

"As listed in the nation's wish list for foreign direct investment until 2010, the Vietnamese government is welcoming foreign investors to set up joint ventures and wholly foreign-invested entities to develop Vietnam's Nghi Son oil refinery and petrochemical complex in the north, as well as the Long Son oil refinery in southern Ba Ria Vung Tau province," a Ministry of Planning and Investment official said.

The $6 billion Long Son oil refinery is expected to have annual capacity of 10 million tons of crude oil and become operational by 2013.

Via: United Press International

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