It is the third time after nearly three years of receiving the investment certificate that the $1.7 billion project has been worked out the deploying plan. Previously, due to financial problems caused by the world economic recession, the foreign investors of the UK's Technostar Co and Russia's TellOil Group had to delay the implementation on the project.

Vung Ro Oil Refinery will be constructed on an area of about 400 hectares of land and water surface, with designed capacity of 4 million tonnes per year. The oil refinery is expected to raise the production capacity to 8 million tonnes per year in the second phase.

Thoi Bao Kinh Te Vietnam - May 28, 2010