Binh Dinh to set up advisory group for oil refinery plan

SGT

The central province of Binh Dinh plans to set up a consulting group for the US$27-billion oil refinery project in Nhon Hoi Economic Zone proposed by Thai firm PTT.

This is one of the major contents in Document 1839/UBND-KTN issued by Binh Dinh Province’s government at the Prime Minister’s request.

The tentative consulting group should comprise representatives of the central development research fund, Bank for Investment and Development of Vietnam (BIDV), economists and former oil business executives. The economic zone management authority of Binh Dinh is assigned to work with the provincial Department for Foreign Affairs on the consulting group’s establishment.

As per the document, the local authorities ask the management authority to consider their proposal to ask PTT to map out the investment plan as required.

The foreign affairs department is told by the local government to propose contents for the document to be sent to PTT, including the content of Dispatch 652/TTg-KTN issued by the Prime Minister on May 10, 2013. The Government in the document requests PTT to clarify a number of contents in the investment report and draft invitations to call for organizations and individuals to join the consulting group.

Binh Dinh vice chairman Ho Quoc Dung earlier said Deputy Prime Minister Hoang Trung Hai had signed a document allowing for the deployment of the oil refinery project in Nhon Hoi.

Dung deemed this as the important step to officially affirm the project’s feasibility.

The Government in the document tells Binh Dinh to request PTT to draft the investment plan and submit it to the Ministry of Industry and Trade before transferring it to the Prime Minister for approval. The province is also told to help the Thai investor submit an environmental impact assessment report to the Ministry of Natural Resources and Environment.

The project owner will spend 12 months drawing up the tender invitation document, five months calling for bidders and six months considering the bidding results while the feasibility study and other procedures on investment preparations should be completed later.

Nhon Hoi oil refinery plant, which is expected to start construction in 2016 and commercial production in 2019, will be developed on 2,000 hectares with a designed capacity of 660,000 barrels a day.

The plant will import some 45% of crude oil from the Middle East, 25% from Africa and the remainder from South and Central America, with its products for domestic sale and export.

 

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