Nghi Son Refinery envisages to boost Vietnam economy

The refinery plant will be able to refine 200,000 barrels of crude oil a day and will produce 10 million tonnes of crude oil a year.

The Nghi Son Refinery is located in Vietnam's north-central province of Thanh Hoa, the USD 9.3 billion plant has shipped the first consignment of RON 92 petrol to its partner, the Refinery plant is expected to release another two refined products consignments in less than two weeks.

The refinery plant will be able to refine 200,000 barrels of crude oil a day and will produce 10 million tonnes of crude oil a year, which is nearly double the capacity of Dung Quat, Vietnam's first established refinery.

The refinery plant whose construction project started in October 2013 and was completed in April 2017 is funded by the consortium of PetroVietnam, Kuwait KPI, Idemitsu Kosan, and Mitsui. Its input of oil is provided entirely by Kuwait while its products include petrol, liquefied petroleum gas, kerosene, jet fuel, and other derivatives such as benzene and polypropylene.

The Nghi Son Refinery is expected to contribute 8 percent to Thanh Hoa's economic growth in 2018 and USD 400 million to the province's budget. The refinery plant is also expected to drive the oil refinery's supporting industries and services in the local economy.

The Nghi Son Refinery will meet 40 percent of the domestic demand and transform the Nghi Son Economic Zone, where the plant is based, into the economic engine of Thanh Hoa province.