Investing nearly 2 billion USD to expand Dung Quat Oil Refinery

At a working session with the Vietnam Oil and Gas Group on the afternoon of October 22, Chairman of the People's Committee of Quang Ngai province Le Viet Chu emphasized that the project to upgrade and expand the Dung Quat oil refinery is an extremely important premise in promoting the socio-economic development of the locality, contributing to the construction of a strong factory, so it is necessary to implement it immediately.

A corner of Dung Quat oil refinery.

Mr. Le Manh Hung, Deputy General Director of Vietnam Oil and Gas Group, said that according to the project, Dung Quat Oil Refinery will expand by 108.2 hectares, including four main locations and safety corridors, of which, 6.2 hectares will be expanded at the southern location - product storage area; 15.7 hectares at the northern location - crude oil storage area; 28.8 hectares at the western location - intermediate area; 43.3 hectares at the eastern area and 14.2 hectares to expand the safety corridor. The total investment cost is from 1.8 to 2 billion USD.

Mr. Le Viet Chu also said that Quang Ngai province will proactively invest and provide 30% of the capital to quickly clear the site with the highest capacity; ensuring the on-time handover to Dung Quat oil refinery, no later than the third quarter of 2016.

Head of Dung Quat Economic Zone Management Board, Mr. Pham Nhu So, recommended that Quang Ngai province and Vietnam Oil and Gas Group carefully consider the plan to expand this factory, especially the compensation for 401 households and more than 2,700 graves located in the project area.

Mr. Le Viet Chu also proposed the most optimal solution is to choose the Northwest of Van Tuong Urban Area (about 35.2 hectares) to resettle these households because the site clearance process will encounter fewer obstacles than other locations, costing only about 770 billion VND./.

According to rural economy