Dung Quat issues 111 new licences

News - The Dung Quat economic zone authority (DEZA) has issued investment certificates for 111 projects with a total registered capital of US$8 billion and realised capital of $4.8 billion, early this year.

There are currently 67 active projects including 31 highly effective ones such as petrochemical projects under the Viet Nam National Oil and Gas Group (Petrovietnam), Dung Quat Shipyard and Doosan Heavy Industries Viet Nam (Doosan Vina).

After two years, the Dung Quat Oil Refinery had produced over 10 tonnes of quality products for domestic and foreign markets, said Nguyen Hoai Giang, Managing Director of Binh Son Refinery, who plans to increase productivity, diversify their products and produce low-cost, quality crude oil.

Dung Quat Shipbuilding Company (DQS) would hand over a 104,000 DWT crude oil tanker to PetroVietnam Transportation Corporation (PVTrans) in March and three crane vessels named Con Son, Hoang Sa, Truong Sa to Joint Venture Vietsovpetro in the first quarter, said Tran Hoai An, Managing Director of DQS.

Doosan Vina shipped seven distillation towers to Refining JG Summit Olefins Corporation in the Philippines on January 20. According to Hang Ha Ryu, Managing Director of Doosan Vina, five other factories will continue implementing major projects such as the $1.3 billion construction of the Mong Duong II Coal-fired Power Plant, the world's biggest desalination project Ras AL Khair in Saudi Arabia, worth $1.9 billion and further equipment for JG Summit Olefins.

All Dung Quat EZ factories have resumed operations after the Tet (lunar new year) holiday, which last year contributed to the company's total output value of VND150 trillion ($7.14 billion), export turnover of $250 million and jobs for 13,500 workers.