US$300 Million Loan for Dung Quat Oil Refinery
Permanent Deputy Prime Minister Nguyen Sinh Hung on January 22 signed the Decision No. 99/QD-TTg to approve the US$300 million credit with a maturity of 13 years and a grace period of three years for Dung Quat Oil Refinery.
Deputy Prime Minister Hung assigned the Ministry of Finance to work with the France’s BNP Paribas Bank on the loan and asked the Ministry of Justice to provide legal advice to the credit agreement.
Dung Quat Oil Refinery is estimated to cost US$2.5 billion for construction. The facility, invested by Vietnam Oil and Gas Group (PetroVietnam), will go on-stream in 2009 with a yearly processing capacity of 6.5 million tonnes of crude oil.
P.V
Vietnamese
