$6bn Kuwait-Vietnam petchem project said still on track

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Kuwait on Monday said plans to complete a $6 billion joint venture refinery in Vietnam are on track.

In a visit to Vietnam, Oil Minister Sheikh Ahmad al-Abdullah al-Sabah and Dinh La Thang, CEO of the state oil monopoly PetroVietnam, ''agreed to reinforce their cooperation towards success of the planned refinery,'' KUNA said.

The $6 billion Nghi Son petrochemical complex, located 180 km south of Hanoi and the largest project of its type in Vietnam, is set to become operational in 2013 and will have a refining capacity of 200,000 bpd.

Kuwait Petroleum International (KPI), the international arm of Kuwait Petroleum Corporation (KPC), established the joint venture in April 2008 with PetroVietnam, as well as Japanese firms Idemitsu Kosan Co. and Mitsui Chemicals Inc.

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READERS' COMMENTS

ANOTHER EXAMPLE OF SMOKE AND MIRRORS
Posted by REFINERY EXPERT IN KUWAIT, Kuwait on Tuesday 22 September 2009 at 07:38 UAE time


this refinery will happen jsut like the 4th Refinery Project in Kuwait. All talk, feel good and no action.

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