Sign up | Log in



Home  >>   Daily News  >>   Vietnam News  >> Energy  >> Billion-dollar projects set to break ground
NEW UPDATES Asean Affairs   12 June 2014  

Billion-dollar projects set to break ground

Vung Ro oil refinery project, with nearly US$3.2 billion investment from the UK's Technostar Management Ltd, is expected to begin in August, according to People's Committee of the central coastal Phu Yen Province.

At the moment, Phu Yen has handed over more than 134 hectares of land at Bai Goc port to Vung Ro Petroleum Ltd. The remaining land of the project, which covers over 400 hectares, will be cleared soon so that the investor can start the project.

Nguyen Ngoc An, deputy chairman of the People's Committee, expressed his expectations on the project's contribution to the socioeconomic development of the province. He committed to bringing the best conditions for investors to begin the constructions.

As planned, when put into operation, Vung Ro oil refinery will contribute to the state budget approximately $111 million per year and provide jobs for 1,300 employees. The refinery will also provide oil for Vietnamese market, which now depends mostly on exports from abroad.

Dau Tu (Vietnam Investment Review) newspaper reported that not only Phu Yen but also other central coastal provinces have attracted billion-dollar foreign-invested projects.

Last week, the People's Committee of Binh Dinh Province met Thailand's top energy firm PTT to discuss on Nhon Hoi oil refinery. The Thai investor is expected to invest $27 billion in the project.

"Once Nhon Hoi oil refinery project is passed, it will bring many advantages to attract investment in the supporting industry for oil refinery and related services," stated Man Ngoc Ly, head of the management board of Nhon Hoi economic zone.

Along with Dung Quat oil refinery in Quang Ngai Province and Nghi Son oil refinery in Thanh Hoa Province, the constructions of these projects will contribute to shaping oil refinery industry in Viet Nam.

Tran Duy Dong, deputy head of the Economic Zone Management Department under the Ministry of Planning and Investment, stated that the central coastal area had potential to attract investment and develop other industries such as electricity, iron and steel, tourism and seafood processing.

Le Van Dung, deputy head of the Dung Quat Economic Zone, stated that projects including Guang Lian steel and Semcorp thermoelectricity will boost the socioeconomic development of Quang Ngai Province in particular and of the central coastal area in general.

For Semcorp thermoelectricity, the People's Committee of Quang Ngai Province will complete necessary procedures and hand over the site to investors in 2016 so that construction can be completed and operations can begin in 2019, according to the committee's acting chairman Le Quang Thich

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                            June 12, 2014 Subsribe Now !
• ASEAN and US Commit to Deepen Bilateral Cooperation  Subcribe: Asean Affairs Global Magazine
• Vietnam, Cambodia strengthen military cooperation
• Government must decide to continue helping MAS or let it 'fly on its own' - PAC
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• GTI factory expansion under way before IPO
• Billion-dollar projects set to break ground
Asean Analysis                    June 12, 2014

• Asean Analysis June 12, 2014
The Philippines’ Slowly Modernizes its Defense Capabilities
Advertise Your Brand

Asean Stock Watch    June 11, 2014
• Asean Stock Watch-June 11, 2014
The Biweekly Update
• The Biweekly Update  May 30, 2014

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand