Vietnam has awarded a French-Japanese consortium a contract to build the country’s first oil refinery with an investment of USD 1.3 billion, of which USD 700–800 million would be for construction and equipment. The government has approved the tender result and awarded the contract to build the Dung Quat refinery to the Technip/JGC/Tecnica Reunidas consortium, formed by France’s Technip-Coflexip and Japan’s JGC Corp. The tender was organised by the joint venture between Vietnam’s state oil monopoly Petrovietnam and Russia’s Zarubezhneft, VietRoss, which is responsible for the refinery.
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