The new facility will be constructed in the Nhon Hoi Economic Zone with a processing capacity of about 660,000 barrels a day of crude oil, which is expected to be five times the Dung Quat Refinery’s capacity.
Thailand-based state owned oil and gas company PTT Public Company is expected to build the new refining facility.
People Committee provincial deputy chairman Ho Quoc Dung was quoted by tuoitrenews.vn as saying that the company can begin construction work immediately at the province, once the license is obtained as no site clearance is needed and the required infrastructure is developed.
"There is also a deep-water port, which will facilitate the import and export of products, while the land leasing fees are acceptable," Dung added.
Construction of the crude oil refinery is expected to commence in 2016 and complete the project by mid 2020.
