In the first phase, the petrochemical and refinery plant will have a capacity of processing 12-13 million tonnes of crude oil per year, along with 0.66 million tonnes of condensate, LPG and ethane.
In the second phase, the plant will receive additional investments to raise its output by 3-5 million tonnes of petroleum and 5.5-7.5 million tonnes of petrochemicals per year, according to a news agency.
PetroVietnam plans to finalise the proposal dossiers and submit to the government in January next year. It will make a feasibility study report from June to December 2023 and expects to receive the project’s investment decision approval in the first quarter of 2024.
The company will select the engineering-procurement and construction contractors during January 2024 to December 2027.
Fibre2Fashion News Desk (DS)