AsemconnectVietnam - On November 25, Binh Son Refining and Petrochemical Company (BSR - UPCoM) and Vietnam Public Joint Stock Commercial Bank (PVcomBank) signed the "Capital arrangement consultancy contract for the Dung Quat Oil Refinery Upgrading and Expansion Project".

Representing the two parties, Mr. Nghiem Duc Duong, Deputy General Director of BSR and Head of the Dung Quat Oil Refinery Upgrading and Expansion Project Management Board and Mr. Duong Xuan Quang, Deputy General Director of PVcomBank signed the Contract in the presence of the leaders of Vietnam Oil and Gas Group, BSR and PVcomBank.
Through this Contract, PVcomBank will advise and support BSR in arranging loans at a rate of 40% of the total investment of the Project, equivalent to about 526 million USD from various loan sources in the domestic and international financial markets; in which, priority is given to export support credit (ECA) loans from international credit institutions. In addition, domestic credit institutions play an important role in financing commercial loans in a timely manner to meet the overall implementation progress of the Dung Quat Refinery Expansion and Upgrade Project.
At the signing ceremony, Mr. Bui Ngoc Duong - General Director of BSR said: Up to now, the Project has completed site clearance compensation and related auxiliary items, is implementing the overall technical design - FEED and the selection of the EPC general contractor will be carried out in 2025 to ensure the project is put into operation according to the approved schedule.
After completing the Dung Quat Oil Refinery Upgrade and Expansion Project, BSR will increase its total production capacity, diversify its input material sources to ensure a stable and long-term supply, help optimize input costs, ensure competitiveness and meet EURO V emission standards, and contribute significantly to the sustainable development of the petrochemical industry in Vietnam as well as ensure national energy security and be the driving force to become the core of the National Energy and Petrochemical Center in the Central region.
N.Nga
Source: VITIC/Tinnhanhchungkhoan