Home / Knowledge / News / Textiles / Mitsui-Idemitsu JV for Vietnam Refinery & Petrochem project
Mitsui-Idemitsu JV for Vietnam Refinery & Petrochem project
02
Apr '08
Idemitsu Kosan Co Ltd and Mitsui Chemicals Inc announce that each company has reached a decision to participate alongside Kuwait Petroleum International and Petro Vietnam (PVN) in the joint venture "Nghi Son Refinery & Petrochemical Limited Liability Company (tentative name)" in order to conduct detailed engineering design and construction of the "Vietnam Nghi Son Refinery & Petrochemical Complex."

Future Timetable
Basic equipment design, economic efficiency and finance scheme will be materialized within around 2 years after establishing the joint venture, in order to determine whether or not to proceed with the construction.

The commercial operation will be targeted to start at the end of 2013, after we proceed to the construction.We will make an additional announcement in the event we decide to proceed with the construction.

Click here to read more details

Rationale for Idemitsu's Investment
(1)To contribute to the further development of the partnership with Vietnam by participating in the energy supply business, an extremely important business for the country which is experiencing continued rapid growth.

(2)To establish an earnings foundation in Vietnam through this transaction which allows Idemitsu to capture the rapidly increasing domestic demand for petroleum products in Vietnam, leveraging the construction and operation technologies accumulated in its petroleum and petrochemical businesses, based on a stable supply of Kuwaiti crude oil.

Must ReadView All

Textiles | On 30th May 2017

Russian regions driving forward light industry & fashion

Russian regions, especially Ivanovo and St. Petersburg, are turning...

Courtesy: Dollar Industries

Apparel/Garments | On 30th May 2017

Dollar Industries registers Rs 906 cr turnover in FY17

Hosiery major Dollar Industries Limited registered a turnover of Rs...

Courtesy: Pan Brothers

Apparel/Garments | On 30th May 2017

Pan Brothers to set up 2 new garment factories

PT Pan Brothers Tbk plans to increase its production capacity by...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search