09:22 | 24/08/2015 Industry
Upgrades to and expansion of the Dung Quat oil refinery in the central coastal province of Quang Ngai will cost roughly US$ 1.83 billion, according to Dinh Van Ngoc, General Director of the Binh Son Refining and Petrochemical Company Ltd (BSR).
Image for illustration (Photo: VNA)
Ngoc said the construction will cover 108.2 hectares stretching over parts of Binh Tri and Binh Thuan communues of Binh Son district.
The components of the project include the addition of new facilities, an increase in the capacity of existing facilities and the conversion of offsite facilities.
The project would help increase the refinery’s capacity from 6.5 million tonnes to between 8.5 and 9 million tonnes per year, equal to 192,000 barrels per day.
Besides existing products, which will meet international standards and the EURO 5 criteria, the project will also help produce plastics, tar, A97 and A98 gasolines and special materials used in military and defence.
The project is scheduled to be completed by the end of 2021, generating around 200 jobs.
The BSR currently meets between 30 and 35 percent of the domestic gasoline demand, which is predicted to remain unchanged until 2021./.