Korean firms to build $2bn refinery in Vietnam

24 February 2013 0 Comments

GS Engineering & Construction, Korea’s fourth-largest builder, said on 16 January that it had won a US$2.1bn order to build the largest oil refinery and petrochemical plant in Vietnam along with SK Engineering & Construction, reports Korea JoongAng Daily online.

The two Korean builders will build the plant in Nghi Son, 200km south of Hanoi, by 2017 for Nghi Son Refinery & Petrochemical Limited Liability, according to GS E&C.

The largest plant in Vietnam, when completed, will be able to refine 200,000 barrels of crude oil per day, GS E&C said, adding it and SK E&C hold a 50% stake in the project.

The two major Korean builders have jointly won projects in Asia in recent years. In October, the two builders clinched a $1bn deal to build an oil refinery plant in Thailand.