New oil port for Vietnam
Construction is underway for a port to serve a proposed $2.5 billion oil refinery in central Vietnam's Dung Quat Economic Zone, news reports said today.
The proposed oil facility will be Vietnam's first oil refinery. It is expected to boost economic development for both Quang Ngai province and the nation.
The Dung Quat International Port project is being undertaken by Vietnam's largest listed freight forwarder Gemadept (General Forwarding & Agency Corporation).
Reports say investments in the port's development top $36 million. When operational it will be able to handle ships of up to 30,000 dead-weight tonnes (DWT).
The proposed cargo throughput capacity is 1.5 million metric tonnes (mt) per year.
According to Prime Minister Nguyen Tan Dung, the Dung Quat Economic Zone (EZ) will be developed on a 10,300 ha-site covering nine communes in the Binh Son district.
The EZ will include tariff and non-tariff sections with a seaport, industrial parks and warehouses, said Nguyen, while development of the zone will have a focus on petrochemical operations.
Heavy industriy projects, like engineering, steel works and shipbuilding, are already underway or being planned in the EZ.
The proposed refinery will have the capacity to handle 6.5 million mt of crude oil each year, producing petrol, diesel fuel, fuel oil, liquified petroleum gas and kerosene, said Nguyen.
It is due to become operational in 2009 and will supply one-third of the domestic market's oil demand, added Nguyen.
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| Facilities will cost $2.5 billion |
The Dung Quat International Port project is being undertaken by Vietnam's largest listed freight forwarder Gemadept (General Forwarding & Agency Corporation).
Reports say investments in the port's development top $36 million. When operational it will be able to handle ships of up to 30,000 dead-weight tonnes (DWT).
The proposed cargo throughput capacity is 1.5 million metric tonnes (mt) per year.
According to Prime Minister Nguyen Tan Dung, the Dung Quat Economic Zone (EZ) will be developed on a 10,300 ha-site covering nine communes in the Binh Son district.
The EZ will include tariff and non-tariff sections with a seaport, industrial parks and warehouses, said Nguyen, while development of the zone will have a focus on petrochemical operations.
Heavy industriy projects, like engineering, steel works and shipbuilding, are already underway or being planned in the EZ.
The proposed refinery will have the capacity to handle 6.5 million mt of crude oil each year, producing petrol, diesel fuel, fuel oil, liquified petroleum gas and kerosene, said Nguyen.
It is due to become operational in 2009 and will supply one-third of the domestic market's oil demand, added Nguyen.
Cowan Thant Zin | Tue Aug 21 04:30 GMT 2007