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Groundbreaking ceremony Vung ro refinery and petrochemical project in Vietnam's second largest

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In the morning of 9/9at Bai Goc portHoa Tam communeDong Hoa districtVung ro refinery and petrochemical projectby the Vung Ro Petroleum Ltd,Co. as an investorofficially the groundbreaking

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The leaders of the groundbreaking ceremonyVung ro refinery and petrochemical project

Ceremony were Mr. Dao Tan Loc, Member of the Party Central CommitteeParty SecretaryHead of Delegation of Provincial ParliamentHuynh Tan VietDeputy Permanent Secretary of the Party CommitteePeople's Council ChairmanPham Dinh CuDeputy Secretary of the Party Committee and Chairman of the provincial People's CommitteeHoang Van TraDeputy Secretary of Party Committee; Luong Mong Sanh, Chairman of Committee of Vietnam Fatherland Front provincescomrades of the Provincial Standing Committeethe Permanent People's Council, Provincial Committee of Vietnam Fatherland Front, a former provincial leader, Vietnam-Russia  Friendship Associationand leaders of departments, agencies, unions and 9 districts, towns and cities …. On the investor side with Mr. Kirill KorolevCEO of Vung Ro Petroleum Ltd,co. and contractors involved in the project clearance.

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Words of the covenant

Speaking at the groundbreaking ceremonyMr. Le Van Truc Permanent Vice Chairman of the provincial People's Committee stressedso today's result is due to the interest and preferences of the Governmentthe Prime Minister,the efforts of investors and relevant agencies, including the Party, government and people of Dong Hoa districtVung Ro petrochemical refinery,the industrial production of large-scale advanced technologymodern in the worldis expected to go into operation in 2017, creating "pushingimportant to promote socio-economic development of the province Phu YenTo accelerate the start of the project, next time, the Vung Ro Petroleum Ltd. to focus and coordinate closely with authorities to urgently complete the procedures for construction investment and policies prescribed by the law of VietnamTo direct and supervise the contractor to accelerate the execution of work items according to the planThe departments functioning of provincial and local stakeholder coordinationtimely handling of problems arisingcreating favorable conditions to help investors ensure construction progress and security themselves in the fieldIn particularDong Hoa district to focus on directing definitively settle the existing problems in the compensation, support, resettlementensure hand over the project land to investors in 9/2014so investors timely deployment of the next step.

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Mr. Le Van Truc, Member of Provincial Standing CommitteeVice Chairman of the provincial People's Committee

Groundbreaking ceremonyVung ro refinery and petrochemical project is a crucial step to start construction of the plant is expected in the first quarter in 2015came into operation in 2017marked an important milestone in the implementation of key projects construction of the South Phu Yen Economic Zone.

Vung ro refinery and petrochemical project (located in Tam Hoa Industrial ZoneDong Hoa district1.080ha widewas built on an area of ​​534haof which 404ha area factoriesBai Goc port 134ha use from 500ha to 1.300ha to sea surfaceVung ro refinery and petrochemical plant with a capacity of 8 million tons / yearthe total investment of nearly $ 3.2 billion in foreign direct and tax incentivesimport tax productscreate stable jobs for more than 1,300 workers in Phu Yen province and the South Central region (at peak times, the number of workers at the plant can be up to 15,000 to 17,000 people), contribution to the State budget of about 111 million USD / year.

The goal of the project is the processing and distribution of petrochemical products; import and export of crude oil and petroleum products, petrochemicals; transportation and storage of crude oil, petroleum products, petrochemicals and trading ports and warehouses. The main products includes the RON 92-487000 tons / year, RON 95-1559000 tons / year, 325,000 tonnes of jet fuel / year, diesel 2,295,000 tons / year, 90,000 tonnes of LPG / year

Unit design, supply of equipment and technology, plant construction (EPC) is a company JGC (Japan), headed by The EPC contractor of the project Complex Nghi Son petrochemical refineryThanh Hoa . This is the largest project of Phu Yen province so farand is one of 3 petrochemical refinery project in Vietnam today (Nghi Son (Thanh Hoa) petrochemical refinery projectcapacity of 10 million tons / year, Dung Quoc (Quang Ngai) oil refinery plant projectcapacity of 6.5 million tons / year).

According to PPCthe contractor is to accelerate the leveling Bai Goc port (phase 1to continue to deploy ground leveling entire project by 2015 (phase 2). Investors also spent more than $ 150 million to deploy more important itemsTo build Vung Ro oil refinery plantPhu Yen Province relocation and resettlement of 280 households and hundreds of cases affected.

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Mr. Kirill KorolevCEO of Vung Ro Petroleum Ltd,co.

At the ceremony, representatives of the investorsMr. Kirill KorolevCEO of Vung Ro Petroleum Ltd thanked the Government of Vietnamthe Party, government at all levels and local people helpeddirection and facilitate companies in the length of the project. When operational, Petrochemical refinery plant will revitalize the provincethere is a positive impact to the economic development and social improvement of the people's lives"We will strictly enforce all provisions of the law of Vietnam and local governmentsnot for building bad influence in the region," Mr. Kirill Korolev said.

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