Previously, Binh Son Refining and Petrochemical Company had hired British contractor Amec Foster Wheeler Energy Limited (AFW) to build an overall design and define cost for the project.
According to AFW, total expenditure to expand the plant will approximate $1.8 billion, in which 30 percent is expected to be raised from PVN and 70 percent will be borrowed from local and foreign banks.
The Ministry of Industry and Trade said that the Dung Quat refinery expansion project is the state’s key project in oil and gas field. The upgrading and expansion is necessary for the plant to operate flexibly, safely, stably and efficiently. Once being upgraded, it will be able to process many types of crude oil, diversify products and meet quality and environmental standards.