HANOI, Nov. 28 (Xinhua) -- Vietnam's central Phu Yen province has licensed UK's Techno Star Management and Russia's Telloil to build an oil refinery with annual capacity of 4 million tons of petroleum products, local newspaper Saigon Liberation reported Wednesday.
Under an investment certificate handed over by Chairman of the provincial People's Committee Pham Ngoc Chi, the refinery named Vung Ro in Dong Hoa district with investment of 1.7 billion U.S. dollars will annually turn out 4 million tons of petroleum, jet fuel, diesel, benzene, liquefied petroleum gas, and sulfur.
The Vung Ro oil refinery is expected to become operational in 2011 and create some 1,000 jobs.
Earlier, the Vietnamese government has allowed a Singaporean firm, the SP Chemicals Ltd, to invest 11 billion dollars to build infrastructure of a 1,300-hectare petrochemical zone and a petrochemical complex with annual capacity of 800,000 tons of ethylene in the district.
Vietnam imported nearly 10.4 million tons of petroleum products worth over 5.8 billion dollars in the first 10 months of this year, posting year-on-year rises of 12.1 percent and 16 percent, respectively, according to the General Statistics Office.
Meanwhile, it exported over 12.4 million tons of crude oil totaling nearly 6.6 billion dollars, down 9.9 percent and 7.5 percent, respectively.
Under an investment certificate handed over by Chairman of the provincial People's Committee Pham Ngoc Chi, the refinery named Vung Ro in Dong Hoa district with investment of 1.7 billion U.S. dollars will annually turn out 4 million tons of petroleum, jet fuel, diesel, benzene, liquefied petroleum gas, and sulfur.
The Vung Ro oil refinery is expected to become operational in 2011 and create some 1,000 jobs.
Earlier, the Vietnamese government has allowed a Singaporean firm, the SP Chemicals Ltd, to invest 11 billion dollars to build infrastructure of a 1,300-hectare petrochemical zone and a petrochemical complex with annual capacity of 800,000 tons of ethylene in the district.
Vietnam imported nearly 10.4 million tons of petroleum products worth over 5.8 billion dollars in the first 10 months of this year, posting year-on-year rises of 12.1 percent and 16 percent, respectively, according to the General Statistics Office.
Meanwhile, it exported over 12.4 million tons of crude oil totaling nearly 6.6 billion dollars, down 9.9 percent and 7.5 percent, respectively.
