Vietnam Oil Refinery Project Gets Site Approval, VIR Says

Vung Ro Petroleum has received land from the Phu Yen People’s Committee to build a 4 million-ton-a- year oil refinery, according to the Vietnam Investment Review, citing a company official it did not identify.

The company is seeking an engineering, procurement and construction contractor, a process that could take eight months, the newsletter said, citing the official.

Vo Rung is a joint venture between the U.K.-based Technostar Management Ltd. and Russia’s Telloil Group, the newsletter said.

The $1.7 billion refinery project was licensed in 2007 and has been delayed because of site-clearance issues, said Vietnam Investment Review.

To contact the reporter on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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