Dung Quat Oil Refinery to be upgraded
VGP – The Dung Quat Oil Refinery will be upgraded to have a capacity of US$ 8.5 million tons per year.
December 25, 2014 5:36 PM GMT+7
The Binh Son Oil Refinery Co Ltd on December 24 in the central province of Quang Ngai was granted an investment certificate for its upgrade and expansion project worth aroundUS$ 1.9 billion.
The project also targets to upgrade the plant’s flexibility capacity of selecting crude oil and ensuring stable supply in accordance with EURO 5 standard.
In addition, the refinery will be expanded by an additionsl 300 hectares in Binh Thuan and Binh Tri communes, including 108 hectares of land and 198 hectares of water surface.
In 2014, the company gained a total output of US$ 5.81 million tons, earning VND 128 trillion (about US$ 6 billion)in revenue, equivalent to 120% and 128% of the yearly target, respectively.
Especially, the company began providing bio-fuel E5-RON 92 from July 30, 2014 in accordance with the bio-fuel development roadmap approved by the Government. So far, the program achieved initial successes in seven pilot provinces and cities.
In 2015, the firm has set a target of producing over 5.86 million tonnes of various products for a total revenue of over VND 120.6 trillion VND./.
By Kim Anh
