USD3.2-billion oil refinery project remains on paper
Vung Ro oil refinery project in the central province of Phu Yen with a total investment of USD3.2 billion has remained on paper despite being licensed in 2007.
The project was expected to produce eight million tonnes of crude oil a year, contribute USD111 million into the state budget and generate work for 1,300 people.
The project was started in 2014 and slated for completion in 2017. However, to date, the project has stalled at site clearance.
At a meeting with authorities of Phu Yen Province, leaders of Vung Ro Petroleum Company Limited, the developer of the Vung Ro oil refinery project, committed that by July 7, it would send an official report to local authorities about the project’s specific implementation plan.
However, until now, the authorities have not yet received any feedbacks from the company.
Director of Phu Yen Province’s Department of Planning and Investment Le Tan Ho said that the department has requested the company to give the answer to the project implementation before July 31.
“If the company continues failing to give their feedback, local authorities will report the case to the government to consider stopping the project,” Ho added.
The project covers 1,200 hectares in Dong Hoa District’s Hoa Tam Commune, revoking land of nearly 600 households.
The project was expected to produce eight million tonnes of crude oil a year, contribute USD111 million into the state budget and generate work for 1,300 people.
The project has stalled at site clearance to date
The project was started in 2014 and slated for completion in 2017. However, to date, the project has stalled at site clearance.
At a meeting with authorities of Phu Yen Province, leaders of Vung Ro Petroleum Company Limited, the developer of the Vung Ro oil refinery project, committed that by July 7, it would send an official report to local authorities about the project’s specific implementation plan.
However, until now, the authorities have not yet received any feedbacks from the company.
Director of Phu Yen Province’s Department of Planning and Investment Le Tan Ho said that the department has requested the company to give the answer to the project implementation before July 31.
“If the company continues failing to give their feedback, local authorities will report the case to the government to consider stopping the project,” Ho added.
The project covers 1,200 hectares in Dong Hoa District’s Hoa Tam Commune, revoking land of nearly 600 households.
Leave your comment on this story