Thai firms’ visit anticipates giant refinery start

Oct 2nd at 14:28

02-10-2014 14:28:20+07:00

Two Thai firms are searching for opportunities to support a $22 billion oil refinery project in south-central coastal province of Binh Dinh’s Nhon Hoi Economic Zone.

Thailand’s Ratchaburi Electricity Generating Limited and KST Development Joint Venture Co. Ltd. both met with the provincial authorities to announce their ambition.

The refinery has a planned output capacity of 400,000 barrels per day (bpd), less than the originally announced $28.7 billion that would have generated 660,000 bpd per day when the project was first proposed in November 2012. It is being invested in by state-owned Thai oil and gas company PTT Limited.

The complex is also expected to pave the way for a number of satellite projects and has a huge demand for electricity, water and waste systems.

Binh Dinh Provincial People’s Committee Chairman Le Huu Loc said the province has completed basic land acquisition and is ready to deliver the developer ‘clear space’. The committee also has requested that the Ministry of Industry and Trade (MoIT) add the project to Vietnam’s oil and gas development plan until 2025.

Meanwhile, On October 1 the MoIT and other authorities held a meeting about the refinery’s plan in preparation of submitting it to the prime minister.

vir