Dung Quat Oil Refinery given license for expansion

December 26, 2014 | 15:31

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The Binh Son Oil Refinery Co Ltd was granted an investment certificate to the upgrade and expansion project of the Dung Quat Oil Refinery in the central province of Quang Ngai on December 24.

Dung Quat oil refinery (Photo: VNA)

Accordingly, the plant will be constructed with a total investment of 1.9 billion USD. Once complete, its capacity will be 8.5 million tonnes per year, 2 million tonnes higher than that at present.

Le Viet Chu, Chairman of the provincial People’s Committee asked the company to start the construction without delay, so as to put the plant into operation soon, thus contributing to stabilising national energy security and promoting the province’s economic development.

The year 2014 marked a successful year for both the production and business of the Binh Son Oil Refinery Company.

Its total output reached 5.81 million tonnes, earning 128 trillion VND (around 6 billion USD), equivalent to 120 percent and 128 percent of the yearly target, respectively.

The company began providing bio-fuel E5-RON 92 from July 30 in accordance with the bio-fuel development roadmap approved by the government. It also implemented a number of initiatives of technological innovation in production.

The firm has set a target of producing over 5.86 million tonnes of various products with total revenues of over 120.6 trillion VND in 2015.

VNA

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