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|Prime Minister Nguyen Xuan Phuc at the inauguration ceremony|
On December 23, Nghi Son Refinery Co., Ltd. (NSRP) officially inaugurated Nghi Son Petrochemical Refinery after five years of construction.
Considered a key national project, Nghi Son Petrochemical Refinery has the largest scale and total investment capital (over $9 billion) of the country’s refineries. The project is developed by a consortium of Kuwait International Petrochemical Company (KPI, 35.1 per cent), Idemitsui Kosan (IKC, 35.1 per cent), and Mitsui Chemicals (MCI, 4.7 per cent). The rest is contributed by state-run Vietnam Oil and Gas Group (PetroVietnam).
The first phase of the refinery has a capacity of 200,000 barrels per day, doubling the capacity of Dung Quat Oil Refinery. According to the plan, once the refinery reaches its full designed capacity (10 million tonnes per year), its products will meet 40 per cent of the local demand for petroleum and diesel. Besides, its petrochemical products will make up 17 per cent of the country’s petrochemical exports.
Speaking at the inauguration, Prime Minister Nguyen Xuan Phuc asked NSRP to ensure the stability of the refinery and the quality of the products. Simultaneously, the PM asked the investor to comply with regulations on environmental protection to avoid causing pollution.
The PM also said that Nghi Son Petrochemical Refinery is a symbol of international co-operation. The refinery has an important political and socioeconomic role in the country’s development, and contributes to ensuring national energy security.