In realization of the oriented plan by its parent Vietnam Oil and Gas Group of turning DQEZ into the country’s second biggest petroleum base after Vung Tau, PVTRANS has now put DQEZ in the focus of the corporation in time ahead, it said in an official letter dated July 9, 2007 to DQEZ Authority.

It revealed in the letter that the corporation would spend out a package of about USD 180 million to carry out a number of projects, including Non-Tarrif Zone Project, General Port Project, Service Area Project, and one more project on services and offices in the new urban city of Van Tuong.

Another package of approximately USD 300 million should be earmarked by PVTRANS for a petrochemical plant to be built in DQEZ, said the corporation in the above-mentioned letter.

Reportedly, a fact-finding mission from PVTRANS led by its President of the Management Board has recently made a working trip to Dung Quat Economic Zone, Quang Ngai province. The mission had met with DQEZ Authority, leaders of Quang Ngai Government and other provincial relavent bodies and shown their investment plans.

In the meeting with the provincial government leaders on July 13, 2007, the two side had reached some agreement in principle on the investment intention of PVTRANS. However, the two sides would discuss further the possibility of construction of a petrochemical plant in the area, because at the time being a polypropylene plant project was already in its preparation stage.

The issues would be reported to Vietnam Oil and Gas Group, and as a result the group may arrange its time appropriate to discuss with Quang Ngai Government some time soon.

The involvement of PVTRANS with half a billion of USD in DQEZ days to come would undoubtedly invigorate this fast-growing economic zone with its most important Dung Quat Refinery Project now under rapid construction to operate on time by early 2009.

So far, 119 projects of more than USD 5.5 billion have been approved in DQEZ, 34 of which are in operation.

Tri, Nguyen Minh