2013 marked an important milestone for the central province of Thanh Hoa as the construction work started on its Nghi Son Oil Refinery and Petrochemical Complex (NSRP) – the largest-ever in Southeast Asia and also the largest FDI project in Vietnam - with capital topping 9 billion USD.

The complex in the Nghi Son Economic Zone in Tinh Gia district is one of Vietnam’s key projects on national energy security and socio-economic development strategies. Its investors include the Vietnam National Oil and Gas Group (PVN), Kuwait Petroleum International, and Japan’s Idemitsu Kosan Co. Ltd and Mitsui Chemicals Inc.

The groundbreaking ceremony for the construction of Nghi Son Oil Refinery and Petrochemical Complex in October, 2013. Photo: chinhphu.vn

Once commissioned in 2017 as scheduled, the NSRP is expected to refine 200,000 barrels of crude oil a day, equivalent to 10 million tonnes of oil a year.

It will be the second in Vietnam, alongside the Dung Quat oil refinery plant, satisfying two-thirds of domestic demand for national industrialisation and modernisation.

The complex has affirmed the province’s determination to make a breakthrough in the industrial and socio-economic development.

It has also reflected the locality’s endeavours to improve the investment environment, which was evidenced by the amount of more than 4.7 billion USD in cooperation agreements signed at a forum to promote investment in the Nghi Son Economic Zone (EZ) and its surrounding areas held in the province in October. The forum coincided with the ground-breaking ceremony of the complex.

With the NSRP complex, Thanh Hoa province is expected to become a more attractive destination for both domestic and foreign investors.

Source: VNA