The Party Central Committee's Economic Commission delegation pays a working visit to Dung Quat Economic Zone

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On the afternoon of June 27, The delegation of the Party Central Committee's Economic Commission (CEC), led by Mr. Nguyen Duc Hien - CEC's Deputy Head - met with leaders of Quang Ngai Provincial Party Committee about the implementation of Resolution No. 23 of the Politburo in Quang Ngai province. Tran Phuoc Hien, Vice Chairman of the Quang Ngai Provincial People's Committee, as well as leaders from key departments and branches, joined the trip.

Reporting at the meeting, leaders of Binh Son Refining and Petrochemical Joint Stock Company (BSR) said that Dung Quat Oil Refinery is a key project for national energy security and the first oil refinery in Vietnam. BSR has a design capacity of 6.5 million tons of crude oil per year, with a total investment of nearly 3 billion USD. Since the factory came into operation, it has produced and sold over 93 million tons of products of all kinds, meeting over 30% of the country's petroleum demand. After nearly 16 years of operation, BSR's total revenue reached nearly 1.6 million billion VND, contributed more than 227 thousand billion VND to the budget, and created jobs for more than 1,500 workers.

On May 5, 2023, the Prime Minister signed a decision to adjust the investment policy of the Dung Quat Oil Refinery Upgrade and Expansion Project, increasing the plant's processing capacity from 148,000 barrels per day to 171,000 barrels per day. The products meet EURO V standards, with a total investment capital of over 36,000 billion VND. The project is expected to be completed in August 2028.

Deputy Head of the CEC, Nguyen Duc Hien, highly appreciated the operating situation of BSR and the results of BSR's production and business activities after 16 years of establishment. He also requested BSR to proactively coordinate with relevant ministries and localities to actively implement the national petrochemical and energy center in Dung Quat Economic Zone according to Resolution No. 26-NQ/TW dated November 3, 2022, of the Politburo on socio-economic development and ensuring national defense and security in the North Central and Central Coast regions to 2030, with a vision to 2045.

Surveying and working at Hoa Phat Dung Quat Iron and Steel Production Complex, the leaders of Hoa Phat Dung Quat Steel Joint Stock Company said that Hoa Phat Dung Quat 1 Iron and Steel Production Complex, which has a capacity of 6 million tons per year, has been in operation since 2021. Currently, the enterprise is focusing on accelerating the implementation progress of the Hoa Phat Dung Quat 2 Iron and Steel Production Complex Project, with a scale of over 280 hectares located next to Hoa Phat Dung Quat 1. It has a design capacity of 5.6 million tons of high-quality hot-rolled coil (HRC) steel per year, with a total investment of 85,000 billion VND. It is expected that by the end of 2024, the company will launch a trial operation of a line with a capacity of about 2.3 million tons per year.

Mr. Hien expressed his appreciation for Hoa Phat Dung Quat's recent successes. Regarding business recommendations related to a number of specific mechanisms and policies for steel industry development, the working group recorded, synthesized, and will report to propose central agencies to research and adjust for suitability in the near future.

T.Giang.