Nghi Son refinery and petrochemical project begins commercial operation
Nghi Son refinery and
petrochemical project begins commercial operation
At the commercial operation
ceremony (Photo: VNA)
Thanh Hoa (VNA) – The Nghi Son
oil refinery and petrochemical plant in the north central province of Thanh Hoa
officially began its commercial operation on December 23.
“The commercial operation of
the project is significant to the national development in terms of politics, economy,
society, security and defence and contributes to ensuring national energy
security,” Prime Minister Nguyen Xuan Phuc said at the launching ceremony.
The commercial operation of
the plant marks a breakthrough development in the country’s oil
refinery-petrochemical sector, he said.
Together with the Dung Quat
oil refinery in the central province of Quang Ngai, the fuel provided by Nghi
Son will meet about 80 percent of the domestic demand, thus reducing dependence
on imports from foreign markets, he added.
So far, this is the biggest
project in Vietnam regarding construction scale and total investment.
The project is a symbol of
international cooperation that received special attention and support from the
Vietnamese government and its important partners – namely Japan and Kuwait, the
It helps create a skilled
workforce, serving as a “nucleus” for the development of human resources in the
region, he said.
The government leader highly
valued the warm support of people from Tinh Gia district in Thanh Hoa to hand
over their land for the construction of the plant.
He asked Thanh Hoa
authorities, the Vietnam National Oil and Gas Group (PetroVietnam), the
management board of Nghi Son Economic Zone, and the Nghi Son oil refinery
company to continue taking good care of local lives.
”The commercial operation of
the plant is an important event, marking a big milestone in the socio-economic
achievement of Vietnam at the end of 2018”, the PM said.
The Nghi Son oil refinery and
petrochemical project has been carried out since 2013.
It is invested by PetroVietnam
(25.1 percent), Kuwait Petroleum International (35.1 percent), and the Japanese
firms Idemitsui Kosan (35.1 percent) and Mitsui Chemicals (4.7 percent).
The plant is located at Nghi
Son Economic Zone – one of the key coastal economic zones and a national key
location of oil and gas.
With a total investment
capital of nearly 9.3 billion USD, the plant is a world-class deep processing
petrochemical complex using the most advanced technology with the full capacity
of 200,000 barrels of crude oil per day in the first phase.
At present, the plant has
successfully produced 10 kinds of petrochemical products.
As of December 2018, the plant
processed around 5 million tonnes of crude oil and contributed over 8 trillion
VND to the State budget.
As planned, when reaching its
full capacity, the plant could process 10 million tonnes of crude oil per year,
meeting 40 percent of the domestic fuel market. Nearly 17 percent of the
petrochemical products will be exported to foreign markets.-VNA