PetroVietnam Finance to Arrange US$60M for Binh Son Oil Refining, Petrochemical
PetroVietnam Finance Corp. or PVFC (PVF), an affiliate of PetroVietnam, said on May 22 that it has signed a deal to arrange US$60 million for Binh Son Oil Refining & Petrochemical Co. Ltd (BSR).
As a result, PVF will satisfy BSR’s capital demand right after the latter takes over the national first oil refinery Dung Quat as well as will provide credit services for BSR.
BSR, a PetroVietnam wholly invested firm, was set up in June 2008 to manage and operate the Dung Quat plant.
PVF is arranging US$32 million for a project to build the second crude oil pipeline and two crude oil tankers for the Dung Quat oil refinery.
French general contractor Technip will hand over the refinery to PSR on May 25. (PVFC)
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