Refinery Joint Venture Joint Venture of Vietnamese and Thai Companies Builds Binh Dinh Refinery
A joint venture of Vietnamese and Thai companies will work on a new 12 megatons/year refinery in the Nhon Hoi Economic Zone in Vietnam. Simultaneously, a feasibility study for an all new thermal power plant at the site is underway.
Quy Nhơn/Vietnam – Vietnamese Khang Thong Group recently signed a technical design agreement to establish a joint venture with STFE and PTT Energy Solutions of Thailand. Together, the companies will work on a planned 12 million tons/year refinery at Nhon Hoi Economic Zone in the Binh Dinh province/Vietnam. The Nhon Hoi refinery shall, according to Khang Thong, focus on utilising local resources and supplying fuel for domestic and foreign markets.
The same day, Khang Thong selected Zarubezhenergoproekt of Russia to do a feasibility study for a future US $ 972 million Binh Dinh Thermal Power Plant (phase I). If the study comes to a positive result, insiders expect construction to begin in the second quarter of 2012, with the facility becoming operational in 2015.