Oil refinery fuels growth in central province
Oil refinery fuels growth in central province
The operation of the Dung Quat Oil Refinery has transformed Quang Ngai Province from a poverty-stricken area into a key economic hub in the central region.
Nguyen Van Chat, deputy general director of the Binh Son Refining and Petrochemical Co Ltd, made this declaration at a workshop held on Monday in the province to commemorate the Dung Quat refinery's fifth year in operation.
Chat, whose company runs the plant, said it has operated commercially since 2010 and produced almost 26 million tonnes of oil, petrol and gas. This was enough to meet 30 per cent of the demand for petrol nationwide.
Last year, the refinery produced 6.6 million tonnes, 17 per cent higher than its target, and gained more than VND154 trillion (US$7.3 billion) in revenue and VND2.9 trillion ($138 million) in profit. It also contributed VND28.4 trillion ($1.3 billion) to the state budget.
The plant's operation has fuelled the development of the petrochemical and ancillary industries in the country, helping ensure energy security, reduce the dependence on imported products and spur the national economic growth, he added.
Vice chairman of the Quang Ngai People's Committee Pham Nhu So said the government has decided to enlarge the Dung Quat Economic Zone to 45,300 hectares and build it into a national petrochemical centre.
The Dung Quat Refinery turned out its 26th million tonne yesterday. Currently, the refinery has a production capacity of 130,000 barrels per day.
vietnamnews
