Vietnam Allocates Land for Kuwait Refinery Project, KUNA Says

The Vietnamese government allocated land for a joint Kuwaiti project to build a refinery and petrochemicals plant, KUNA news agency reported, citing Kuwait Petroleum Corp. magazine.

The land is now ready for excavation and basic construction, KUNA said. State-run KPC and the Japanese refiner Idemitsu Kosan Co. each has 35.1 percent stake in the Nghi Son refinery, while state-controlled Vietnam Oil & Gas Group holds 25.1 percent and Mitsui Chemicals Inc. holds the rest. The refinery is forecast to process 200,000 barrels per day.