Vietnam mulling over US$11.21B petrol distribution network by 2025

Vietnam is considering a plan to invest US$11.21 billion to build a petroleum distribution network in the 2010-2020 period with a vision for further development through 2025.

Of the sum, an investment of US$3.33 billion is planned for the 2010-2015 period and US$7.87 billion for the 2016-2025 period, according to Petrolimex Engineering Joint Stock Company (PEC), the plan maker.

PEC said in the 2010-2025 period Vietnam needs to build new petrol warehouses with a combined capacity of 4.3 million cubic meters, raise capacity of current stores by a combined 2.3 million cubic meters, build new depots with a combined capacity of 618,000 cubic meters, and raise capacity of current depots by a combined 722,000 cubic meters.

Capital for petroleum store building between 2010 and 2025 is estimated at US$5.1 billion, building and upgrade of petroleum pipeline systems at US$562 million, petroleum tankers at US$3.22 billion, and filling stations at VND38.8 trillion (US$2.031 million), PEC said.

The nation plans to raise the number of pumping stations to 11,487 by 2015 and 18,710 by 2025 from the current 9,000, the firm added.

The state-run Vietnam National Petroleum Corp (Petrolimex) is currently the biggest petroleum trader, holding a 51% of the domestic market share and having 1,871 filling stations nationwide, including 332 in remote areas.

Tags: Vietnam petrol, Vietnam petrol distribution network