Jan 2013
Yokohama Japan – JGC Corporation (JGC), Chiyoda Corporation (Chiyoda),
Technip, and South Korean contractors GS Engineering & Construction (GS)
and SK Engineering & Construction (SK) today jointly announced that the
joint venture, formed by JGC, Chiyoda, Technip, GS and SK, has received
notification of the award of a contract for the Nghi Son refinery and
petrochemicals complex in the Nghi Son economic zone in northern Vietnam. The
contract was awarded by the Nghi Son Refinery Petrochemical Limited Liability
Company, a joint venture between Idemitsu Kosan Co., Ltd (35.1%), Kuwait
Petroleum International (35.1%), Vietnam Oil and Gas Corporation (25.0%), and
Mitsui Chemicals, Inc. (4.8%). The lump-sum turnkey contract calls for the
engineering, procurement, construction (EPC) and commissioning work for an oil
refinery with a production capacity of 200,000 barrels per day. The complex,
scheduled for completion in late 2016, will be located in the Thanh Hoa
Province in Vietnam, 200 km south of the capital city of Hanoi. The value of
the contract was not disclosed.
This project, which is being promoted by Idemitsu Kosan Co., Ltd.,
Kuwait Petroleum International, Vietnam Oil and Gas Corporation, and Mitsui
Chemicals, Inc. is a grassroots oil refinery and petrochemical complex project
in Vietnam. This project will be the second constructed in Vietnam, and is
aimed at satisfying increasing demands for petroleum products to support the
progress of Vietnam's motorization, as well as produce petrochemicals for
export. Together with Vietnam's first refinery, the Dung Quat refinery
(constructed by a consortium of JGC, Technip and others, and completed in
2009), the Nghi Son refinery and petrochemical complex will be a major pillar
supporting the country's economic development.
JGC has been targeting marketing activities toward Southeast Asian
countries, including Vietnam, and has been concurrently working on
strengthening and expanding JGC Vietnam, an EPC subsidiary of JGC established
in Vietnam in 2009. Part of JGC's portion of this project is scheduled to be
constructed by JGC Vietnam.
JGC plans to become involved in many more oil refining and
petrochemicals projects in Vietnam in the future. JGC has been responsible for
the construction of more than fifty oil refineries, and JGC and JGC Vietnam are
focusing marketing activities on Southeast Asia in hopes of contributing to
building Vietnam's industrial base and furthering economic development.
Source: JGC
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