The complex with a capacity of 200,000-barrels-a-day will be built in Nam Van Phong facility in Khanh Hoa province, the Dien Dan Doanh Nghiep.
The main products produced from the refinery include petrol, diesel, jet fuel, kerosene, liquefied petroleum gas and other petrochemical products.
Petrolimex is also planning to issue an initial public offering on 28 July 2011, seeking investors for the construction of the complex.
The company is plannning to join hands with PetroChina to construct a 225 km pipeline connecting Chinese state oil giant’s Qinzhou refinery in Guangxi province with Petrolimex’s K130 terminal in Vietnam’s Quang Ninh province.
The main aim to construct the pipeline with an initial annual capacity of 10 million tonnes is to take Chinese refined products to Vietnam.
Construction of the pipeline is estimated to cost around $212m and expected to be completed by 2014.
The company is planning to purchase gasoline and diesel from the pipeline running through the Vietnamese border city of Mong Cai.
