PM Nguyen Tan Dung just agreed with the Vietnam Oil and Gas Group (PetroVietnam) to organize the inaugural ceremony of the Dung Quat Oil Refinery in Q4 this year.
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The Dung Quat Oil Refinery
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The project, ground-broken in 2005, covers an area of 338 hectares of land and 471 hectares of sea surface in Binh Thuan and Binh Tri Communes, Binh Son District, the central province of Quang Ngai.
The oil refinery is the most modern project in the Southeast Asian region and it is also the biggest industrial facility in Vietnam.
The US $3 billion project began its 100% capacity operations in August 2010 and has put into distribution some 4.74 million tons of standard products.
In 2009 alone, the refinery contributed around VND 1,500 billion, about three times of the province’s total budget collection value in 2005, to the State budget.
Once entering full operations, the Dung Quat Oil Refinery would add some VND 14,000 billion to the State budget.