Construction due on Vietnamese refinery

Construction will begin in July on the 200,000-b/d refinery to be built in the Nghi Son Economic Zone in Thanh Hoa Province, about 200 km south of Hanoi, Vietnam, reports Idemitsu Kosan Co. Ltd. (OGJ Online, Jan. 30, 2013).

Idemitsu, a 35.1% partner in Nghi Son Refinery & Petrochemical LLC (NSRP), has reached a final investment decision after financial arrangements were completed for the $9 billion project.

Project financing will provide $5 billion, and sponsors will provide the remainder. Other partners and their shares in the investment are Kuwait Petroleum International 35.1%, PetroVietnam 25.1%, and Mitsui Chemicals 4.7%.

Project finance will come from direct loans of $2.3 billion from Japan Bank for International Cooperation and Export-Import Bank of Korea and loans from commercial banks totaling $2.7 billion.

The commercial-bank loans are insured or guaranteed by Nippon Export and Investment Insurance or other overseas export credit agencies.

Construction is expected to be complete in 2016. Commercial operations are to begin in 2017.

The refinery, designed to run Kuwait heavy (30.2º gravity) crude, will have an 80,000 b/d fluid catalytic cracker and a 700,000-tonne/year aromatics complex.

Related Articles

BASF-Total venture starts up 10th furnace at Port Arthur steam cracker


BASF Total Petrochemicals LCC (BTP) reported the startup of a 10th furnace at its steam cracker facility in Port Arthur, Tex.

Phillips 66 considers splitter at Sweeny refinery

03/21/2014 Phillips 66 is evaluating the potential for the addition of a condensate splitter near its 247,000-b/d Sweeny refinery in Old Ocean, Tex., just sou...

Second small diesel refinery planned for North Dakota

03/21/2014 Quantum Energy Inc. (QEI), Tempe, Ariz., said it has secured land for the construction of a 20,000-b/d grassroots hydroskimming refinery in North D...

Flint Hills settles Port Arthur pollution case

03/20/2014 Flint Hills Resources (FHR) has reached a settlement with the US federal government to implement innovative technologies to control harmful air pol...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected