The Dung Quat Oil Refinery is a national key project that has been the largest in scale of both construction and investment capital so far, said Prime Minister Nguyen Tan Dung at a ceremony to inaugurate the factory in the central province of Quang Ngai on January 6. 

PM Dung stated that putting Vietnam’s first oil refinery into production is of political, socio-economic, national defence and security significance in the process of national industrialization and modernization. It confirms the correct investment decision of the Party, and the State.

 

With a design capacity of 6.5 million tonnes of crude oil per year, the factory has produced different types of high quality oil and petrol products, meeting 30 percent of the demand for fuel in the domestic market as well as reducing Vietnam’s dependence on oil supplies from overseas.

 

The project also marks an important milestone in achieving strategic goals, as well as laying a firm foundation for the establishment of the oil refinery industry in Vietnam. The factory will bring about remarkable changes not only for the key economic region in Quang Ngai but also for the central region as a whole.

 

Mr Dung highlighted great efforts made by investors, contractors, engineers and workers involved in the project and expressed thanks to local people in Binh Son district, especially those who had abandoned their land for the construction of the factory.

 

The PM also asked the local authorities to co-ordinate with the Vietnam National Oil and Gas group (PetroVietnam) to implement social welfare policies for those who had to move away from the construction site.

 

He affirmed that the national key project will allow Vietnam to process crude oil and increase its value in the country, limit the import surplus and reduce its dependence on oil and petrol supplies from overseas.

 

The construction and operation of the Dung Quat Oil Refinery will promote the development of other economic and industrial sectors in the country such as design, construction, mechanical engineering, manufacturing and assembly, steel, electronics, transportation, shipbuilding, petrochemistry, chemicals and services.

 

At the ceremony, Quang Ngai provincial party secretary Nguyen Hoa Binh thanked the Party and State’s decision on building the first oil refinery factory in Vietnam. He pledged to cooperate with PetroVietnam to preserve, protect and exploit the factory effectively.

 

(VOVNEWS)