Deputy PM Hai Approves Handover of Vietnam 1st Oil Refinery
Vietnamese Deputy Prime Minister Hoang Trung Hai, head of the state steering committee on national major oil and gas projects, has agreed in principal the transfer of the country’s first oil refinery Dung Quat to the state-run Vietnam Oil and Gas Group (PetroVietnam).
Hai, however, did not mentioned the timetable of the handover.
Earlier, the investor, PetroVietnam, expected to take over the refinery from the French EPC contractor Technip by end-April or early May when all technical errors at the plant were settled.
The $3.054-billion plant, located in the central province of Quang Ngai, produced 3.3 million tons of petroleum products since its first operation on February 22, 2009 through end-April of this year.
PetroVietnam is seeking partners to raise capacity of the plant to 8.5 million per year from the current designed 6.5 million. (VNS)
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