Japanese oil firm, Idemitsu Kosan Co Ltd (Idemitsu), plans to build a US$1 million Dinh Vu Port Petrol Station.

The petrol station will be located in Dong Hai 2 Ward, Hai An District, in the northern Hai Phong Port City.

If approved, this would be Idemitsu’s second station in Viet Nam. Its first station opened in Ha Noi last October.

Local sources in Hai Phong reported that Japan’s Idemitsu Kosan Chief Representative for Viet Nam, Nobuyuki Nakamura, had a working session with chairman of the municipal People’s Committee, Nguyen Van Tung, about investment plans for the station.

Covering an area of 10,000sq.m, the station is expected to bring about revenue of more than $10 million per year. If all procedures are completed soon, the project will begin construction in January 2018 and be put into operation one month later.

The station would contribute VND46-66 billion a year to the city’s budget.

In addition, it also plans to build a lubricant plant in the city.

Tung hailed the Japanese company’s investment into the city and confirmed that they would create favourable conditions to help them implement the project.

He hoped that the company would continue launching other projects.— VNS