Prime Minister asks the authorities to clear land for Singapore's Sempcorp Group to build the Dung Quat Thermal Power Plant as scheduled. — Photo radiovietnam.vn

HA NOI (Biz Hub) — Prime Minister Nguyen Tan Dung directed concerned authorities in central Quang Ngai province last Wednesday to clear land for the upcoming expansion of the Dung Quat Oil Refinery.

The expansion is expected to raise the refinery's current annual output from 6.5 million tonnes to 10 million tonnes, thereby meeting 50 per cent of the country's demand for refined petroleum products.

At a meeting with provincial authorities, the Prime Minister also instructed the authorities to help Singapore's Sempcorp Group to build the Dung Quat Thermal Power Plant as scheduled.

Asked about funding for the implementation of land clearance and resettlement for large projects in the Dung Quat Economic Zone, the Prime Minister said the State would prioritise budget allocation for the Dung Quat Thermal Power Plant, and provincial authorities must map out and appraise the plan before submitting it to him for review and approval.

The Prime Minister also instructed the Ministry of Industry and Trade to map out effective plans for supplying electricity to some areas in Ly Son Island.

Since its launching in 2009, the Dung Quat Oil Refinery, the first of its kind in Viet Nam, has produced roughly 30 million tonnes of products, raking in VND580 trillion (US$27.23 billion) in revenues and contributing VND93 trillion ($4.37 billion) to the State budget.

Last year alone, it produced 6.6 million tonnes, or 17 per cent more than its target, and earned more than VND154 trillion ($7.3 billion) in revenues and VND2.9 trillion ($138 million) in profits. — VNS