The Thanh Hoa-based Nghi Son Refinery is scheduled to produce its first batch of commercial products in May, as announced on February 28.
Nghi Son oil refinery complex
After five years of construction, Vietnam’s second oil refinery is
now ready to commence operations and will begin to receive crude oil for
refinement.
Once operational, the facility will help to ensure Vietnam’s
energy security and contribute VND10 trillion (US$440 million) to the budget of
the north central province, the management estimated.
Turki Alajmi, general director of the refinery complex, said that
this project is of strategic importance as it will meet Vietnam’s
growing demand for refined oil products which are necessary for its
industrialisation drive.
Construction of the complex commenced in 2013 with total capital
of over US$9 billion.
The project is jointly invested in by four contractors, namely
PVN, Kuwait Petroleum International, Idemitsu Kosan and Mitsui Chemicals, which
hold 25.1%, 35.1%, 35.1% and 4.7% respectively.
The facility has an annual capacity of producing 10 million tonnes
of refined oil products.
Source: NDO
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.