Government Mulls $4.8 Billion Oil Refinery in Khanh Hoa

The Vietnamese government has agreed in principle to allow the Viet Nam National Petroleum Corp., or Petrolimex, to invest $4.4 billion-$4.8 billion in a new oil refinery, the government said Thursday.

Deputy Prime Minister Hoang Trung Hai Thursday assigned Petrolimex to prepare a feasibility study into the project, the government said on its Web site.

The refinery, with a designed processing capacity of 200,000 barrels of crude oil a day, is expected to cover 600 hectares in Khanh Hoa province, 1,200 kilometers south of Hanoi, it said.

The refinery is scheduled to start operations by 2013, the government said.
The government said it would hold a stake of less than 30% in the refinery. (Dow Jones)

Source: vnbusinessnews