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
Vietnam's competition watchdog asks Zalo to revise user terms, allow opt-out
Vietnam’s competition watchdog has asked tech unicorn VNG to revise how it implements the terms of service on its messaging app Zalo, saying users must not be forced to accept data collection and usage conditions in order to continue using the platform.
Companies - Wed, December 31, 2025 | 3:00 pm GMT+7
La Pura: From HCMC to Shanghai - Bringing the healing city concept to global stage
Phat Dat Development Corporation (PDR: HoSE), in collaboration with its sales agent Indochine, has officially introduced the La Pura Healing City to the international investor community at JW Marriott Shanghai, the financial hub of Shanghai, China.
Companies - Wed, December 31, 2025 | 2:35 pm GMT+7
Viconship raises stake in Vietnam's largest container port operator HAH to nearly 24%
Viconship (HoSE: VSC), one of Vietnam’s leading seaport operators, and two of its subsidiaries have acquired a combined 14 million shares, or nearly 24% stake, in Hai An Transport and Stevedoring JSC (HoSE: HAH), the largest container fleet operator in the country.
Companies - Wed, December 31, 2025 | 2:17 pm GMT+7
HCMC sets up task force to speed up $2 bln AI data center project
Ho Chi Minh City has established an inter-agency task force to accelerate the implementation of a nearly $2 billion artificial intelligence data center project planned by Vietnamese industrial developer Kinh Bac City Development Holding Corporation (HoSE: KBC) and foreign partner AIC.
Industries - Wed, December 31, 2025 | 11:47 am GMT+7
Construction major Vinaconex acquires 98% stake in state-controlled Viwaseen
Vietnam’s leading construction firm Vinaconex (HoSE: VCG) has completed the acquisition of a 98.16% stake in water supply infrastructure firm Viwaseen Corporation.
Companies - Wed, December 31, 2025 | 11:31 am GMT+7
Energy sector a bright spot in Vietnam’s Q4 profit outlook: broker
Vietnam’s energy sector is expected to post the strongest profit growth among major industries in the fourth quarter of 2025, according to MBS Securities.
Finance - Wed, December 31, 2025 | 9:45 am GMT+7
Vietnam pushes to break ground on North-South high-speed railway by end-2026
Minister of Construction Tran Hong Minh has asked relevant agencies to ensure Vietnam's flagship North-South high-speed railway project can break ground by the end of 2026.
Infrastructure - Tue, December 30, 2025 | 9:38 pm GMT+7
Amid the rise of e-commerce, physical retail remains resilient
Shifting the focus from purchasing to experience-led environments that are engaging creates compelling reasons for visitors to stay longer, return more often, and ultimately drive footfall beyond products alone, write Savills Vietnam analysts.
Consulting - Tue, December 30, 2025 | 3:14 pm GMT+7
Vietnam competition watchdog summons VNG over Zalo user data terms
The Vietnam Competition Commission (VCC) has summoned tech unicorn VNG (UPCoM: VNZ) after its messaging app Zalo abruptly updated its terms of service, requiring users to agree or face account deletion.
Companies - Tue, December 30, 2025 | 2:36 pm GMT+7
Taseco Land rides investment wave, expands industrial property footprint in northern Vietnam
Amid the continued rise of FDI inflows into Vietnam and the ongoing shift of global supply chains, Taseco Land is gradually affirming its role as a long-term, strategically oriented industrial park developer.
Companies - Tue, December 30, 2025 | 1:39 pm GMT+7
Vietnam’s pharma export hits $312 mln in 2025, ranking 4th in Southeast Asia
Vietnam’s pharmaceutical market is maintaining steady annual growth of 6-8%, with total market value projected to rise from about $2.7 billion in 2015 to around $8 billion by 2026, making the country one of Asia’s fastest-growing drug markets, the Drug Administration of Vietnam reported.
Economy - Tue, December 30, 2025 | 1:13 pm GMT+7
FPT Telecom sets sights on top spot in Vietnam’s internet TV market
By securing exclusive rights to broadcast the English Premier League (EPL), FPT Telecom has underscored its ambition to become Vietnam’s leading internet television and digital services provider.
Companies - Tue, December 30, 2025 | 11:53 am GMT+7
Vietnam's credit growth to hit 19% in 2025, highest in many years: central bank
Vietnam’s credit growth has reached one of its highest levels in years, pushing the country’s credit-to-GDP ratio to the highest among lower-middle-income economies, according to the central bank.
Economy - Tue, December 30, 2025 | 8:51 am GMT+7
Novaland shares hit ceiling price after HCMC project resumption
NVL shares of Novaland, one of the major real estate developers in Vietnam, hit its ceiling price of VND14,150 ($0.54) on Monday, following news that its The Park Avenue project in Ho Chi Minh City resumed construction after eight years of delay.
Real Estate - Mon, December 29, 2025 | 10:16 pm GMT+7
Indonesia promotes waste-to-energy conversion
Facing mounting pressure from the rapid growth of household waste, Indonesia is accelerating initiatives to convert waste into energy (WtE) as a key pillar of its green growth and circular economy strategy.
Southeast Asia - Mon, December 29, 2025 | 8:01 pm GMT+7
Create Capital Vietnam, Haimaker.ai plan $1 bln AI data center network
Create Capital Vietnam (HoSE: CRC) and Haimaker.ai have unveiled plans to develop a nationwide network of AI-focused data centers in Vietnam, with a total designed capacity of 100 megawatts and investment of about $1 billion.
Industries - Mon, December 29, 2025 | 7:37 pm GMT+7
