Phu Yen to resume Vung Ro refinery project
Nguyen Duy Hung, UOP’s representative in Vietnam said that UOP will be the main technology designing contractor of the projects. With this contract, UOP will play the major role in the operation, maintenance and service when the factory comes into operation as well as training experts throughout the project life.
The project’s operating time is estimated to be about 18 – 24 months.
According to information from Vung Ro Petroleum Ltd, in a few weeks, the negotiation of general constructing contractors for the plant will be completed to ensure the starting time in Q4/2012 as its commitment with Phu Yen People’s Committee.
Nguyen Chi Hien, director of Phu Yen Department of Planning and Investment shared that Vung Ro project will create an average revenue of $2.23 billion/year.
The project is 100 percent invested by Technostar Management Ltd (England) with total $1.7 billion of total registered capital.
Phu Yen People’s Committee offered investing license since November, 2007. Previously, in addition to information about total capital adjustment up to over $3.1 billion, the project has been delayed continuously due to the economic crisis.
