Binh Dinh puts oil refinery project out to tender

Wednesday, Jul 24, 2013 08:00

Goods are loaded at Quy Nhon Port in Binh Dinh Province. The central province has many foreign-invested projects, and is set to release bidding packages inviting international groups to join in the construction of Viet Nam's largest oil refinery project. — VNA/VNS Photo Viet Y

HA NOI (Biz Hub)— The Petroleum Authority of Thailand (PTT) will prepare three bidding packages inviting international bidders to join in the construction of Viet Nam's largest oil refinery project in central Binh Dinh Province.

The project, located in Nhon Hoi economic zone, is estimated to cost between $27-28 billion.

The bidding results are expected to be announced early next month by Binh Dinh Province and the PTT.

Le Huu Loc, chairman of Binh Dinh Province's People's Committee, told VnExpress online that the PTT would disclose the winners of three consultancy packages in the fields of finance, markets and technology.

He said PTT would also provide information on specific finances, technology, equipment and crude-oil source to remove public concern about the feasibility of the mammoth project.

Apart from the three bidding packages, Binh Dinh Province will invite local consultancy companies to get involved in the environmental field.

A feasibility study will take between six to nine months. The investor will send its report to the ministries and the Prime Minister for consideration and a final decision.

Binh Dinh Province has decided to set up a consultancy team with professionals experienced in refineries, finance, banking and the environment. The team will closely work with the PTT in handling any inquiries raised by ministries.

Construction of the project is expected to begin in 2016 and to be commercially active by mid-2020. The refinery is designed to have an annual capacity of 30 million tonnes a year.

Crude oil will be imported from the Middle East, Africa, and South America to feed the plant, which will produce more than 20 products for export. — VNS

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