Malaysia’s PETMAL Oil Holdings has proposed building a modern oil refinery complex in south-central Phu Yen province with estimated investment of $5 billion, according to local authorities.
Provincial authorities held a working session with investors on May 10 to discuss investment plans.
On an area of 500 ha at the Hoa Tam Industrial Park, the refinery is designed to have a crude oil processing capacity of 8 million tons a year.
It will employ around 1,200 workers directly at the plant while generating indirect jobs for 5,000 others.
Meanwhile, the Hoa Phat Group has proposed building four projects at the Hoa Tam Industrial Park, including the Hoa Tam Industrial Park Infrastructure Trading project, the Bai Goc Port project, the Hoa Phat Iron and Steel Complex, and a trade and service area. Total investment is estimated at VND120 trillion ($5.06 billion).
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