At the signing ceremony to mark the ready for operational operation (Source: //baomoi.com)
ThanhHoa (VNA) - The Nghi Son Oil Refinery and Petrochemical (NSRP)complex in the central province of Thanh Hoa is ready for official operationfrom February 28.
Therefinery is scheduled to produce the first commercial oil products in May thisyear.
Once become operational, the project will help ensure the national energy security.It is expected to contribute 10 trillion VND (436 million USD) to the local budget in2018.
Addressing a ceremony to announce the milestone held on February 28,General Director of the complex Turki Alajmi highlighted the strategic importanceof the project, saying that it will help meet Vietnam’s increasing demand of petrochemical products to serve the country’s industrialisationand modernisation.
He thanked the Vietnamese Government and local authorities for their supportand facilitation to the project.
The NSRP is built in Nghi Son economiczone in Tinh Gia district. This is the largest national oil and gas project ofthe country with total investment of over 9 billion USD.
Japanese firm Idemitsu Kosan and the Kuwait Petroleum InternationalCompany (KPI)each contributed 31.1 percent of the total investment, while capital contribution ratesof the Vietnam Oil and Gas Group (PetroVietnam) and another firm of Japan - Mitsui Chemicals are 25.1and 4.7 percent, respectively.
With its capacity of 10 million tonnes of petrochemicalproducts per year, the Nghi Son petrochemical refinery complex is expected tohelp improve the self-reliance of Vietnam in producing refinery andpetrochemical products.-VNA
Speeding up administrative reform, organising more investment promotion activities, and focusing resources on upgrading infrastructure are the main measures the central province of Thanh Hoa is going to take in a bid to support businesses operating in its Nghi Son Economic Zone (EZ) this year.
The Nghi Son Economic Zone (EZ) in central Thanh Hoa province is expected to become a multi-sector industrial area with a focus on refinery-petrochemical and basic industries in the near future.
The upcoming operation of Idemitsu Q8 Petroleum LLC in Vietnam’s petroleum market is expected to increase the competitiveness of the local oil and gas product market.
The Nghi Son petrochemical refinerycompany on August 22 received the first batch of 270,000 tonnes crude oil from Kuwait via Millennium cargo ship for its operation.
Central Thanh Hoa province will put more focus on solving problems for Nghi Son Oil Refinery project to soon put it into use, said Secretary of the provincial Party Committee Trinh Van Chien on November 21.
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At the signing ceremony to mark the ready for operational operation (Source: //baomoi.com) 
