(VOVworld) – The construction of the 9 billion USD Nghi Son Refinery and Petrochemical Complex began in Nghi Son Economic Zone in Thanh Hoa province on Wednesday.

Prime Minister Nguyen Tan Dung addresses the ground-breaking ceremony (Source: VOV)

At the ground-breaking ceremony, Prime Minister Nguyen Tan Dung said the Nghi Son complex was of great significance in ensuring a national energy security during the implementation of the socio-economic development strategy. Major investors in the project are the Vietnam National Oil and Gas group (PVN), the Kuwait Petroleum International, Idemitsu Kosan Corporation and Mitsui Chemicals Company from Japan. Once completed, the project together with the Dung Quat Oil Refinery, will meet two-thirds of total requirements for oil refinery produce in the national industrialization and modernization process. Prime Minister Nguyen Tan Dung said: "Investors from Vietnam, Kuwait and Japan, as well as contractors and consultants should be highly aware of their responsibilities to strictly implement and complete the project on schedule. The relevant ministries and sectors should cooperate with Thanh Hoa province and investors to deal with any difficulties arising during the implementation of the project".

The refinery has a design capacity of 10 million tones of oil per year and is expected to be operational by the 4^th quarter of 2017.