28 November 2012 09:03 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand’s energy giant PTT is looking at investing in a $28.7bn (€22.1bn) refinery and petrochemical project in Vietnam, a company source said on Wednesday.
The company has tapped its subsidiary, PTT Energy Solution, to undertake the study of the project, which will include a 600,000 bbl/day refinery. The project will be located at Binh Dinh in central Vietnam, the source said.
The project is expected to produce 3.7m tonnes/year of aromatics and 6.5m tonnes/year of olefins, the PTT source said.
PTT has submitted the project proposal to the Vietnamese government, the source said.
“If the Vietnam government has approved the plan, PTT will join in the investment,” the company source said.
Project construction is expected to start in 2016, with the start-up expected in 2019, the source said.
Apart from Vietnam, PTT is also considering Myanmar, Indonesia and Malaysia as locations for future refinery cum petrochemical projects, the source said.
($1 = €0.77)
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