US$4 bln Vung Ro refinery project launched  

The event also saw the signing of a front end engineering design contract and letter of intent to award EPC works to JGC-Japan between Vung Ro petroleum and JGC corporation.

At the ceremony, Deputy PM Hoang Trung Hai evaluated the project as a breakthrough made by the energy industry, contributing to the socio-economic development of the South Central Coast.

He also expected that investors will launch next steps of the project and provinces create favorable conditions for the investors.

Vung Ro oil refinery will be built in Dong Hoa, Phu Yen Province with total investment of around US$4 billion.

The plant will produce eight million tons of oil products per year.

By Thuy Dung