VietNamNet Bridge – The biggest oil and gas producer in Thailand
is considering building a giant petrochemical complex in central Vietnam.
According to the statement of the
Petroleum Corporation of Thailand (PTT), they want to build a refinery with a
capacity of 660,000 barrels per day in Nhon Hoi Industrial Zone in Binh Dinh
Province. With this output, this will be one of the world's largest oil
refineries. The total investment is expected at $28.7 billion, according to Dow
Jones Newswire.
On November 22, the website of
the People's Committee of Binh Dinh Province also said that the provincial
officials met with Mr. Sukrit Surabotsopon – PTT Deputy Director General, to
listen to his introduction of the pre-feasible report on the refinery project.
Talking to Dow Jones Newswire,
Mr. Le Huu Loc, Chairman of People's Committee of Binh Dinh Province, said the
construction of this plant is expected to start in 2016 and the first barrels
of oil will be processed in 2019. "The PTT has showed a very high
determination, so we believe that they can carry out the project," Loc
said.
The Chairman of Binh Dinh
Province also added that the PTT met a number of companies in Vietnam to
discuss the possibility of cooperation in this project, including the Vietnam
Oil and Gas Group (PetroVietnam), the Petroleum Import-Export Group
(Petrolimex) and the Military Petroleum Corporation.
PTT’s CEO, Mr. Nattachat Charuchinda,
confirmed that they presented the project before Binh Dinh officials last
Thursday. He said the crude material to serve for the plant will be imported
from the Middle East and the project will include an aromatic processing plant
for export to China.
Vietnam now has only one oil
refinery - Dung Quat - with an output of 130,000 barrels per day. After it was
put into operation in 2009, Dung Quat refinery has satisfied about a third of
the domestic demand.
Another Thai company - Siam
Cement PCL and partners – have announced the plan to build the Long Son oil
refinery worth $4.5 billion in Ba Ria - Vung Tau. Siam Cement and its
subsidiaries will hold 48% stake in the project. The remaining may belong to
the Qatar International Petroleum Marketing Company, Tasweeq, Petrolimex or
PetroVietnam. However, this project is having difficulty in finding capital, so
it has been delayed since 2009.
Compiled by Na Son
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