Idemitsu to expand investment in Việt Nam
Idemitsu to expand investment in Việt Nam
Idemitsu Group plans to expand its investment in Việt Nam, including a green fuel project in Bình Định and a carbon emissions reduction project in the sugarcane raw material areas in Thanh Hóa.
Hideaki Egashira revealed plans to expand Idemitsu's investment in Việt Nam. — Photo tapchicongthuong.vn |
Hideaki Egashira, General Director of Idemitsu Việt Nam Co Ltd, a subsidiary of Japanese petroleum company Idemitsu Kosan, has revealed plans to expand the company's investment portfolio in Việt Nam.
The plans include a green fuel project in Bình Định and a project to reduce carbon emissions from sugarcane raw material in Thanh Hóa.
Egashira revealed the plans at a meeting with Deputy Minister of Trade and Industry Nguyễn Hoàng Long, and expressed gratitude to the Ministry of Industry and Trade (MoIT) for its support of the company's Nghi Sơn Refinery and Petrochemical project.
Currently, the Nghi Sơn Refinery operates stably at 120 per cent capacity, contributing significantly to national energy security, particularly amid global geopolitical and economic fluctuations.
In close collaboration with the Việt Nam Oil and Gas Group (Petrovietnam), the company's stakeholders are making maximum efforts to restructure the project.
In oil and gas exploration and production, Idemitsu continues to ensure a stable supply of gas to power plants through the Sao Vàng - Đại Nguyệt gas project.
Long commended the contributions of the Nghi Sơn Refinery project and reaffirmed the Government and MoIT's commitment to supporting the project.
Nghi Sơn Refinery is a joint venture project sponsored by four corporations: Việt Nam Oil and Gas Group (PVN), Kuwait Petroleum Europe B.V. (KPE) from Kuwait, and Idemitsu Kosan and Mitsui Chemical Inc from Japan.
With a total investment of about US$9 billion, it is one of the largest foreign-invested projects in Việt Nam and has been in commercial operation since late 2018.
In 2024, the refinery processed 83 million barrels, equivalent to 11.4 million tonnes of crude oil.
