NSRP engages with Thanh Hoa Party Secretary in productive discussions

On November 15, 2024, Nghi Son Refinery and Petrochemical LLC (NSRP) hosted a significant visit from Mr. Nguyễn Doãn Anh, the newly appointed Secretary of the Thanh Hoa Provincial Party, alongside a delegation from the Provincial Party and People’s Committee.

The visit was marked by a warm reception from NSRP’s General Director, Mr. Kazutaka Yamato, and General Manager of the Refinery, Mr. Le Nguyễn Quốc Vinh, along with the leadership team.

NSRP Management team welcomed Mr. Nguyen Doan Anh – Thanh Hoa Provincial Party Secretary
and the delegation

In his opening remarks, Mr. Yamato extended his congratulations to Mr. Doãn Anh on his recent appointment, emphasizing NSRP’s essential role in the economic development of Thanh Hoa and its contribution to national energy security, supplying 40% of Vietnam’s fuel needs. He reported on NSRP’s successful completion of its first Turnaround project and highlighted the refinery’s significant tax contributions, totaling over $4.3 billion since 2018. Mr. Yamato reiterated the company’s focus on optimizing operations and called for ongoing support from provincial authorities.

Following this, Mr. Vinh provided a detailed report on NSRP’s business performance and operational results over recent years. Mr. Doãn Anh responded with commendations for the company’s impressive track record, noting its resilience in navigating challenges during construction and its commitment to improving operational efficiency. He acknowledged the financial complexities currently impacting NSRP and stressed the importance of prioritizing employee welfare and managing costs to secure long-term sustainability.

NSRP General Director Mr. Yamato responds to concerns

The meeting concluded with a shared commitment to addressing NSRP’s financial challenges. Mr. Doãn Anh’s visit underscored the critical need for effective financial management to ensure the refinery’s long-term viability. NSRP expressed confidence in its capacity to overcome these hurdles and continue its significant contributions to the economic landscape of Thanh Hoa province.

Mr. Nguyen Doan Anh delivers remarks at the meeting

NSRP leadership offered a transparent overview of the company’s financial situation, outlining the considerable debt repayment obligations stemming from strategic growth investments. Despite the current financial strain, the company remains focused on its mission to provide secure energy and support regional economic development.

NSRP presents souvenir to Mr. Doan Anh – Thanh Hoa Party Secretary