Tokyo, Jan 17, 2013 (JCN) - A joint venture of JGC Corporation (JGC), Chiyoda Corporation, Technip, and South Korean contractors GS Engineering & Construction and SK Engineering & Construction has been awarded a contract for the Nghi Son refinery and petrochemicals complex in the Nghi Son economic zone in northern Vietnam.
The contract was awarded by the Nghi Son Refinery Petrochemical Limited Liability Company, a joint venture between Idemitsu Kosan Co., Ltd (35.1%), Kuwait Petroleum International (35.1%), Vietnam Oil and Gas Corporation (25.0%), and Mitsui Chemicals, Inc. (4.8%).
The lump-sum turnkey contract calls for the engineering, procurement, construction (EPC) and commissioning work for an oil refinery with a production capacity of 200,000 barrels per day.
The complex, scheduled for completion in late 2016, will be located in the Thanh Hoa Province in Vietnam, 200 km south of the capital city of Hanoi. The value of the contract was not disclosed.
This project, which is being promoted by Idemitsu Kosan Co., Ltd., Kuwait Petroleum International, Vietnam Oil and Gas Corporation, and Mitsui Chemicals, Inc. is a grassroots oil refinery and petrochemical complex project in Vietnam.
This project will be the second constructed in Vietnam, and is aimed at satisfying increasing demands for petroleum products to support the progress of Vietnam's motorization, as well as produce petrochemicals for export.
Together with Vietnam's first refinery, the Dung Quat refinery (constructed by a consortium of JGC, Technip and others, and completed in 2009), the Nghi Son refinery and petrochemical complex will be a major pillar supporting the country's economic development.
Copyright © 2013 JCN. All rights reserved. A division of Japan Corporate News Network KK.
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