Japan, Kuwaiti firms to set up $9b oil refinery

HANOI - Vietnam on Sunday inked a deal with firms from Japan and Kuwait to build an oil refinery complex worth nearly $9 billion as part of efforts to meet its growing energy needs.

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Published: Mon 28 Jan 2013, 11:00 PM

Last updated: Sat 4 Apr 2015, 9:42 AM

The Nghi Son refinery, which is due to start operating by 2017 in Thanh Hoa province, about 200 kilometres south of Hanoi, will turn Kuwaiti oil into petrol and other petroleum products. It will be able to process 10 million tonnes of crude oil a year, the government said.

State-owned PetroVietnam will own a 25.1 per cent stake in the joint venture while Japan’s Idemitsu Kosan and Kuwait Petroleum International will each hold 35.1 per cent. Mitsui Chemicals of Japan will own the remaining 4.7 per cent

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