Dung Quất Refinery gets approval for foreign bankloan

VNGOVNet – On the Prime Minister's behalf, Standing Deputy PM Nguyễn Sinh Hùng on January 22 signed Decision 99/QĐ-TTg allowing the Dung Quất Oil Refinery project to approach a loan of US$ 300 million with a term of 13 years, including 3 years of grace, and an interest rate of 6.78139% per year. The Deputy PM entrusted the Ministry of Finance to represent the Government and sign a loan agreement with the BNP Paribas Bank. The Ministry of Justice is called in for legal advice on the agreement for the Borrower.

January 23, 2007 10:12 AM GMT+7

The Refinery is located in Bình Trị and Bình Thuận communes, Bình Sơn District, Quảng Ngãi Province. On November 28, 2005, work on the development covering 338 ha of land and 473 ha of water surface began on an investment of US$ 2.50 billion (excluding financial costs during the construction) by PretroVietnam. Expected to be finished in early 2009, the project involves many items of support facilities serving the Refinery whose designed capacity is 6.5 million tons a year.

By Xuân Hồng

(Source: Decision 99/QĐ-TTg)