The People’s Committee of central Binh Dinh province and the Petroleum Authority of Thailand (PTT) will in early August launch a feasibility study on a project to build an oil refinery in the locality.
Illustrative image (Source: Internet)
The feasibility study is expected to take nine months.
The project, located in the Nhon Hoi Economic Zone, is estimated to cost 26.9 billion USD.
Chairman of the Binh Dinh provincial People’s Committee Le Huu Loc said the PTT will disclose the winners of three consultancy packages in finance, market and technology for the project.
The Thai group will also provide information on specific finances, technology, equipment and crude oil source.
Apart from the three bidding packages, Binh Dinh province will invite local consultancy companies to get involved in the environmental field.
Construction of the project is expected to begin in 2016 and to be commercially active by mid-2020. The refinery is designed to have an annual capacity of 30 million tonnes a year.
Crude oil will be imported from the Middle East. Africa, and South America to feed the plant, which will produce more than 20 products for export.
Source : VNA