Vietnam plans to expand Dung Quat refinery

By OGJ editors
HOUSTON, Aug. 13
-- The Vietnamese government has approved plans to raise capacity of the 148,000-b/sd Dung Quat refinery to 200,000 b/d.

Viet Nam News, published by the official Vietnam News Agency, said Deputy Prime Minister Hoang Trung Hai ratified the plan after agreement from the ministries of planning and investment, industry and trade, and construction and finance.

The refinery, Vietnam’s only such facility, went on stream in February 2009. State-owned Petrovietnam, through Binh Son Refining & Petrochemical Co. Ltd., took over operation of the refinery from main contractor Technip last May.

Viet Nam News said the government has authorized Petrovietnam to sell interests in the refinery.

“Petrovietnam is considering selling off 49% of the refinery’s total stake to foreign firms after the plant becomes fully operation and stable,” the publication said.

Nguyen Hoai Giang, director general of Binh Son Refining & Petrochemical, said he couldn’t discuss financing of the expansion because plans remained incomplete.

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