Over $230m invested for Nghi Son Oil Refinery project

The functional authorities has recently approved in principle for raising the investment capital for Nghi Son Oil Refinery Complex project to $235.66 million, a considerable increase in comparison with the initially proposed of $200 million. The investment capital also included infrastructure construction and compensation and support for resettlement works.

The investors explained surpass of $35.66 million against the initial was due to changes in compensation policies under Decree No 69/2009/ND-CP, high raw material prices and fluctuation in forex rates.

Nghi Son Oil Refinery Complex was sited in an area of 962 hectares in Nghi Son Economic Zone, Thanh Hoa province. The PetroVietnam Construction Joint Stock Corp was the general contractor responsible for ground levelling works in this project.

Tags: Nghi Son Oil Refinery project

Posted by VBN on Jun 28 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry