Anh Phat Investment Construction-Trading JSC kicked off the VND3.94 trillion ($168 million) expansion of its gas & LNG complex in the central province of Thanh Hoa on Sunday.
The project, located in Nghi Son Economic Zone, features a 165,000 sqm bonded warehouse, a port to host ships of up to 30,000 tons, and a wharf to welcome vessels of up to 70,000 tons. It also offers supporting services in oil refining and petrochemicals.
Currently, the facility’s warehouse is 153,000 sqm, while the port can accommodate ships of up to 5,000 tons.
The project aims to upgrade the facilities for supplying gasoline and liquified natural gas (LNG) to Vietnam's northern and north-central regions of Vietnam.
Nghi Son, a key economic zone in central Vietnam, is home to the Nghi Son Refinery and Petrochemical LLC (NSRP), Nghi Son steel complex, thermal power plants, cement factories, and others.
Nghi Son Refinery and Petrochemical LLC, the largest of its kind in Vietnam, is a $9 billion refinery co-owned by Petrovietnam, Kuwait Petroleum Europe B.V. (KPE), and Japan’s Mitsui Chemical and Idemitsu Kosan Co.
Another operational one, Dung Quat Refinery, is a Petrovietnam subsidiary and has received more than $3 billion in investments.
Thanh Hoa province recorded a gross regional domestic product of 6.21% in the first quarter of this year, driven by the service sector at 10.91%, construction-industry 5.66%, and agriculture-forestry-fisheries 3.22%. Major industrial products include gasoline, diesel oil, sugar, beer, cement & clinker, steel, and electricity.