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FINANCIAL NEWS
Saudi Aramco, Thai PTT, in joint Vietnamese project
16 Sep 2014
(MENAFN) Saudi Aramco, the world’s biggest oil producer, joined with Thai energy company PTT announced submitting a USD22 billion refinery and petrochemical complex in Vietnam to the government, Arab Business reported.
Aramco and PTT will each own 40 percent of the project at Binh Dinh’s Nhon Hoi economic zone, while the Vietnamese government will hold the remaining 20 percent.
Aramco will help supply crude to an oil refinery with capacity of 400.000 barrels per day to the project, which will also include an olefins and aromatic petrochemical plants with combined capacity of 5 million tons a year and it is expected that the project will take six to seven years before it is fully operational.
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