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Wednesday, July 24, 2024

Xuan Thien Group mulls oil refinery project in Ninh Binh

The Saigon Times

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HCMC – Xuan Thien Group is seeking approval from local authorities to conduct a survey to develop a petrochemical and refinery complex covering around 2,500 hectares in the northern province of Ninh Binh.

The petrochemical and refinery complex will be developed in three phases from 2025 to 2040, with a capacity of nine million tons of crude oil a year.

If Xuan Thien Group’s proposal gets approved, its survey will be carried out on a 1,500-hectare coastal land area and a 1,000-hectare sea surface in Kim Son District, Ninh Binh Province.

This petrochemical and refinery complex would provide liquefied petroleum gas (LPG), liquefied natural gas (LNG),  and hydrogen fuel for Xuan Thien Group’s green steel complex in Nghia Hung District, Nam Dinh Province and helps meet domestic fuel demand.

The cost of VND300 billion for the survey will be entirely borne by Xuan Thien Group.

Currently, Vietnam has two major refineries, namely Nghi Son in Thanh Hoa Province and Dung Quat in Quang Ngai Province. Their total fuel output can satisfy 60% of domestic demand.

The third refinery, Long Son, is under construction.

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