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FINANCIAL NEWS
Kuwait co-invested refinery to be built in Vietnam
08 Jun 2013
(MENAFN) Japanese refiner Idemitsu Kosan Co stated that its plan to construct a USD9billion refinery in Vietnam was agreed on with co-investors including Kuwait Petroleum International, reported Arabian Business.
The company, which is Japan’s third largest refiner, also said that it reached a final decision with its co-investors Kuwait Petroleum International, Mitsui Chemicals Inc, and PetroVietnam, to start the project in July.
The company added that the project will refine 200,000 barrels per day. The project will include the building up of Nghi Son refinery as well as a chemical complex.
It is worth noting that Idemitsu Kosana owns and operates oil platforms, refineries and produces and sells petroleum, oils and petrochemical products, while Kuwait Petroleum International supplies 4000 retail service stations, as well as direct sales operations delivering fuel and heating oil to domestic and industrial users. It also operates an International Diesel Service (IDS).
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