The Nghi Son Refinery and Petrochemical Complex will be constructed on an area of 500 hectares in Thanh Hoa province’s Nghi Son Economic Zone at a total cost of US$9 billion.
The refinery has a planned annual capacity of 10 million tonnes of oil, much higher than Dung Quat, Vietnam’s only refinery at the moment, which has a production capacity of 6.5 million tonnes.
The finished Nghi Son plant will produce liquefied petroleum gas, petrol, diesel, kerosene, polypropylene, paraxylene, benzene and sulphur.
The project is a joint venture, in which the Vietnam National Oil and Gas Group (PVN) has a 25.1% stake, Kuwait Petroleum International (KPI) and Idemitsu Kosan Co. (IKC) each hold a 35.1% stake, and Mitsui Chemicals Inc owns the remaining 4.7%.
The engineering, procurement, and construction (EPC) contract was awarded to a consortium formed by Chiyoda Corporation, GS Engineering & Construction Corporation, SK Engineering & Construction Co., Ltd, Technip France, and Technip Geoproduction (M) Sdn. Bhd.
The complex is scheduled for completion in the fourth quarter of 2016 with commercial production rolling out in 2017.
