10 September 2013


PTT Appoints Consultants to Participate In Vietnamese Refinery & PC Complex
Hanoi -Thailand’s PTT has selected McKinsey & Co., Foster Wheeler and IHS Inc. as consultants for its planned $27- billion refinery and petrochemical complex in Vietnam’s Binh Dinh province.  McKinsey will serve as a strategic project manager, Foster Wheeler will be responsible for engineering consultation and the early stages of the complex and IHS will support the import and export of sources through May 2014. PTT plans to select financial consultants soon.  The project, which will be located in the Nhon Hoi Economic Zone and may involve other partners, includes a 660,000-b/d refinery to process Middle East crude, as well as units for the production of 650,000 t/y of olefins and 370,000 t/y of aromatics. Operations are scheduled to begin in 2020.

A pre-feasibility study was submitted to the provincial government last year and the project was approved by the Vietnamese government earlier this year. Man Ngoc Ly, head of the Nhon Hoi Economic Zone, said PTT will receive special incentives for investing in this area of Vietnam, including the possibility of a 70-year income tax exemption.