HSBC to arrange financing for $1.49 bln expansion of Dung Quat refinery
Binh Son Refining and Petrochemical JSC (BSR), operator of the Dung Quat oil refinery, has selected HSBC to coordinate an export credit agency (ECA) arrangement for a $1.49 billion expansion.
In a Wednesday statement, BSR, a subsidiary of state-owned Petrovietnam, said relevant documents for the move were handed over last month.
Delegations of Dung Quat refinery operator BSR (left) and HSBC meet at the BSR headquarters in Quang Ngai province, central Vietnam, April 2024. Photo courtesy of BSR.
In March, BSR had said it would spend VND36,397 billion ($1.49 billion) on expanding the refinery, increasing its capacity by 16% to 171,000 barrels per day or 7.6 million tons a year.
The expansion also aimed to make products meet Euro V emission standards and other environmental requirements, while improving the facility’s flexibility to refine different kinds of crude oil.
BSR aims to complete the 51.67-hectare expansion and put the plant into operation in 2028 after 37 months of construction.
Petrovietnam has been planning the upgrade of Dung Quat oil refinery, one of the two operational refineries in Vietnam, for many years. Vietnam’s first refinery began commercial operation in 2009, fulfilling 30% of domestic demand for gasoline in the country.
In 2014, Petrovietnam formulated a $1.8 billion expansion plan for the refinery that did not receive approval from the Ministry of Natural Resources and Environment over its environmental impacts.
- Related News
- Read More
Vinhomes to start construction on $155 mln industrial park project in northern Vietnam in early 2026
Vinhomes, the real estate arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to commence construction of an industrial park in Hai Phong in the first quarter of 2026.
Industrial real estate - Wed, July 23, 2025 | 10:19 am GMT+7
Vingroup’s real estate arm VEF posts 8,372% net profit growth in H1 on strong sales
Vietnam Exhibition Fair Center JSC, a real estate subsidiary of conglomerate Vingroup (HoSE: VIC), reported a net profit of VND15.25 trillion ($583.3 million) in the first half of 2025, up 8,372% year-on-year on the sales of key real estate projects.
Real Estate - Wed, July 23, 2025 | 8:08 am GMT+7
China's Guangxi proposes cooperation in aluminium mining, processing with Vietnam's Cao Bang province
Guangxi, one of China’s largest aluminium industry hubs, is seeking to establish cooperation with Vietnam’s Cao Bang province in aluminium mining and processing.
Companies - Tue, July 22, 2025 | 10:17 pm GMT+7
Malaysia maintains stance in tariff negotiations with US: Prime Minister
Malaysian Prime Minister Datuk Seri Anwar Ibrahim has reaffirmed Malaysia's stance on factors that may affect the country's policies, especially regarding tariff negotiations with the US.
Southeast Asia - Tue, July 22, 2025 | 10:11 pm GMT+7
Northern Vietnam province Bac Ninh pledges optimal support for Samsung Vietnam expansion
Bac Ninh is committed to facilitating the operation of Samsung Vietnam in the locality, said Chairman of the provincial People’s Committee Vuong Quoc Tuan.
Companies - Tue, July 22, 2025 | 10:04 pm GMT+7
NS BlueScope Vietnam publishes Environmental Product Declarations
NS BlueScope Vietnam has officially announced its Environmental Product Declarations (EPDs) to transparently disclose detailed information on the environmental impacts of its products.
Companies - Tue, July 22, 2025 | 8:07 pm GMT+7
Public corporate bond offerings expected to rebound rapidly in H2
As Vietnam’s financial markets continue a deeper phase of adjustment following a turbulent period, capital-raising channels are showing increasingly clear signs of divergence.
Companies - Tue, July 22, 2025 | 7:57 pm GMT+7
Vietnam’s benchmark VN-Index surpasses 1,500 points, highest in a month
Strong cash inflows from domestic investors in the final minutes of trading propelled the VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), to its highest level in a month on Tuesday, topping 1,500 points.
Finance - Tue, July 22, 2025 | 4:52 pm GMT+7
Vietnam's top instant coffee producer Vinacafé Bien Hoa earns nearly $52,800 in daily profit
Vinacafé Bien Hoa, Vietnam's leading instant coffee maker, posted an after-tax profit of over VND249 billion ($9.52 million) in the first half of 2025, or nearly VND1.38 billion ($52,785) per day.
Companies - Tue, July 22, 2025 | 3:49 pm GMT+7
Former Netflix HR leader joins Vietnam-based consultancy Newing as strategic advisor
Ho Chi Minh City-based Newing, a consulting firm specializing in leadership development and organizational transformation, is expanding its global network of experts to support Vietnamese enterprises, with Shweta Shukla, former Netflix HR executive, appointed as strategic advisor.
Companies - Tue, July 22, 2025 | 2:37 pm GMT+7
Malaysia’s EV adoption rate projected to reach 9.6% by year-end
The adoption rate of electric vehicles (EVs) in Malaysia may reach 9.6% by the end of this year, supported by the introduction of new models and growing consumer interest, according to Malaysian Automotive Association (MAA) president Mohd Shamsor Mohd Zain.
Southeast Asia - Tue, July 22, 2025 | 1:41 pm GMT+7
Malaysia strengthens position in global hydrogen ecosystem
Malaysia’s first solid-state hydrogen reactor, the HyPEReactor, has been launched at the Orang Asli Settlement of Pos Tibang.
Southeast Asia - Tue, July 22, 2025 | 1:39 pm GMT+7
Vietnam's SHB bank okayed to expand charter capital to $1.76 bln
Saigon-Hanoi Bank (SHB) has received approval from Vietnam's central bank to raise its charter capital to VND45.942 trillion ($1.76 billion) after issuing a 13% share dividend, maintaining its position among the Top 5 largest private banks in Vietnam.
Banking - Tue, July 22, 2025 | 12:45 pm GMT+7
Update of typhoon Wipha in Vietnam: Storm No.3 weakens into tropical depression
At around 7:30 p.m today (Tuesday), after nine hours of making landfall in Vietnam's Hung Yen-Thanh Hoa area, tyhooon Wipha weakened into a tropical depression.
Society - Tue, July 22, 2025 | 10:18 am GMT+7
Vietnam’s BCG Energy aims for green energy comeback
BCG Energy JSC (UPCoM: BGE), a subsidiary of Vietnam's multi-sector corporation Bamboo Capital, plans to hold its 2025 AGM on August 14, staying ready for a comeback to the green energy race.
Companies - Tue, July 22, 2025 | 9:54 am GMT+7
Vietnam’s benchmark VN-Index expected to surpass historical highs after correction: expert
The VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), will establish a new base and potentially break through its historical peaks after a correction phase, said Tran Hoang Son, director of market strategy at VPBank Securities (VPBankS).
Finance - Tue, July 22, 2025 | 9:07 am GMT+7
