U.K., Russia Firms to Start Building US$1.7B Oil Refinery in Vietnam End-2009
A joint venture between Technostar Management Ltd. of the U.K. and Telloil of Russia will start construction of the US$1.7-billion Vung Ro oil refinery in the central province of Phu Yen late this year.
Nghiem Xuan Cai, an assistant director of the oil refinery, said at a conference on investment and tourism promotion to Phu Yen province held in Hanoi October 7.
In the first phase ending in 2011, the refinery, which will have an annual capacity of four million tons, is expected to produce liquefied petroleum gas (LPG), benzene, gasoline, diesel oil and fuel oil.
The JV with the British firm holding a 51% stake will double the refinery’s annual capacity to eight million tons at the end of the second phase. (Investment)
Vietnamese
