Plans for Can Tho Oil Refinery

The People’s Committee of Can Tho City has just agreed with the JS Vien Dong Investment and Trading Company and the China National Overseas Engineering Corporation to build an oil refinery in the Mekong Delta City of Can Tho.

An oil refinery will be built in Can Tho City

The US$360-million plant will cover an area of 300 hectares in the Hung Phu II Industrial Park and will refine two million tons of crude oil per annum.
 
Construction of the oil refinery is scheduled to start at the end of the year and is due to be put into operation in 2013.

The project will open up 2,000 new jobs for the local people.
 
Project investors plan to buy crude oil from the Petro Viet Nam Trading Company (Petechim) of the Viet Nam Oil and Gas Corporation (PertroVietnam) for refining before selling on their produce to PetroMekong in Can Tho for distribution in the Mekong Delta provinces or for onward sale to Petechim.

By Quynh Nhu – Translated by Yen Chuong

Other news

Most view

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

STK to issue 10.8million shares

The shareholders of Century Synthetic Fiber Corp (code: STK) have approved plan to issue 10.8 million shares.