Refining oil plant plan

The new Can Tho oil refinery is taking shape. Can Tho Department of Planning and Investment is sourcing comment from the Ministry of Planning and Investment for Can Tho Oil Refinery Company’s proposal to team up with Mekong Petrochemical Company.

Under the joint venture plan, the Mekong Company will contribute 70 per cent of the capital, while the remaining 30 per cent will be offset by Can Tho Company.

Developer Can Tho Company also asked to scale down the project’s investment from $538 million to $350 million, but still maintain the production capacity at two million tonnes per year.

The first phase of production will be one million tonnes of products per year. Land lease area also fell to 50 hectares, down 200ha against the initial plan.

The Can Tho oil refinery project was licenced in May 2008 with the Can Tho Oil Refinery Company acting as the developer which earlier failed in its tie-up plan with three foreign partners.  -VIR

Tags:

Posted by VBN on Sep 22 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

You must be logged in to post a comment Login

Stay informed everyday

Subscribe to free RSS and email updates from Vietnam Business News

Subscribe via Email Subscribe in a Reader Follow us on Twitter Connect on Facebook

RSS Singapore Business News

  • Sembcorp, SembMarine, SIA, Hyflux, Oxley, Cosco
  • Jones Lang reports strong Q3 earnings
  • Asia-Pac Reits can survive challenges ahead: S&P
  • Green Lodge up for sale again at S$195m
  • HDB unveils roadmap for better living
  • OCBC Group posts Q3 net profit of S$513m

RSS India Business News

  • Low prices may cut Rabi potato acreage by 15 to 20 per cent
  • NSE aims to launch SME exchange this month
  • Sensex ends up 17 points; DLF, BHEL, Bharti Airtel gains
  • Sensex ends near 17500; BHEL, DLF, Tata Power up
  • Sensex ends up 17 pts; BHEL, DLF, Tata Power gains
  • Nifty near 5200; IDFC, Tata Motors, SAIL down

RSS Malaysia Business News

  • Zelan to build IIUM Gambang campus
  • Andhra Bank to start ops here next month
  • Kimlun to buy land in Seremban
  • DRB-HICOM plans RM1.8b sukuk
  • KL stocks mixed on blue-chip rebound
  • Ringgit falls on weak demand

Sponsored

  • Looking for an overseas forex broker?
  • Trading Point now offering Forex Malaysia and FX Japan with Forex, CFD's and Futures.