16 - 20 billion USD needed for potential projects to form the National Oil Refinery and Energy Center in Dung Quat

The project to establish the National Refinery and Energy Center (NRE) in Dung Quat Economic Zone (EZ) was proposed with the goal of meeting all the petroleum demand in the Central Highlands - Central region, meeting at least 30% of domestic petroleum demand by 2030 and becoming the leading energy center in Southeast Asia by 2050. On December 13, the People's Committee of Quang Ngai province held a meeting to collect comments on the project to establish the National Refinery and Energy Center in Dung Quat EZ, chaired by Chairman of the People's Committee of Quang Ngai province Nguyen Hoang Giang. Also attending the meeting were Mr. Nguyen Hoang Tuan - Permanent Vice Chairman of the Provincial People's Committee; Vice Chairmen of the Provincial People's Committee: Vo Phien, Tran Phuoc Hien; representatives of relevant departments and branches. On the side of Binh Son Refining and Petrochemical Joint Stock Company ( BSR ), there were Mr. Nguyen Van Hoi - Chairman of the Board of Directors; Deputy General Directors; and representatives of functional departments of the unit. Meeting many important goals At the meeting, Mr. Vo Van Ran - Director of the Department of Industry and Trade of Quang Ngai province said that up to now, the Ministry of Industry and Trade has completed the adjustment of the project to form the National Center for Renewable Energy and Natural Gas in Dung Quat Economic Zone and is collecting opinions from relevant levels. In the immediate future, the project to form the National Center for Renewable Energy and Natural Gas in Dung Quat Economic Zone has 5 chapters, aiming at the goals of ensuring energy security, socio-economic development, green and sustainable development, and attracting investment. The project also orients the formation of this Center to meet all the petroleum needs of the Central - Central Highlands region, meeting at least 30% of domestic petroleum needs by 2030. At the same time, the project aims to achieve a reserve of crude oil for production within about 30 days and petroleum products for consumption within 30 days. Leaders of Quang Ngai Provincial People's Committee listened to comments on the project. The goal is that by 2050, the National Renewable Energy Center will become the leading energy center in Southeast Asia, with a total output of about 25 million tons of oil equivalent. At the same time, it will create more than 30,000 new jobs, contributing about 30% to the economic growth of Quang Ngai province. With the orientation of green and sustainable development, the project's electricity source will have 5-10% of its output from renewable energy. Accordingly, the energy saving rate on total energy consumption compared to the normal development scenario will reach about 7-10%. Thereby, reducing greenhouse gas emissions by about 15%. At the same time, the recycling rate and use of waste in production will reach about 10%. By 2050, the project's electricity consumption from renewable energy will increase to 20%. Accordingly, the project will reduce greenhouse gas emissions by about 30%, making the project a green, sustainable and pioneering energy center in the region, operating according to a complete circular economic model. The National Refinery and Energy Center in Dung Quat Economic Zone is oriented to focus on developing the fields of oil refining, petrochemicals and energy; self-sufficiency in some important raw materials, aiming to export raw materials; and forming a circular economic model. In addition, the project also orients the development of infrastructure - utilities; regional linkage; investment in potential project portfolio; forming projects to complete the ecosystem and increase profits for existing factories in the region such as using products from Dung Quat Refinery or other factories; prioritizing the implementation of projects to ensure national and regional energy security, projects related to new energy and clean energy. In particular, the project will apply digital technology , artificial intelligence, recycling technology... environmentally friendly, contributing to green growth and sustainable development. Play an important role for Quang Ngai province and the whole country in the future. At the meeting, relevant levels calculated the need for about 16.1 - 20.5 billion USD in total capital for potential projects of the project to form the National Center for Renewable Energy and Natural Resources. Accordingly, the 2025-2030 period needs about 14.1 - 17.5 billion USD; the 2031-2045 period needs about 2 - 3 billion USD. Therefore, each year needs about 770 - 980 million USD in total capital. The project also provides solutions on operating models, specific mechanisms and policies... to effectively implement the set goals. To contribute to promoting the progress of the project, delegates attending the meeting gave comments and opinions on the need to clarify the project's connectivity to regions and areas in the country; at the same time, increase the energy proportion, supplement mechanisms and policies and especially ensure the source of raw materials for the project's production activities. Mr. Nguyen Hoang Giang - Chairman of Quang Ngai Provincial People's Committee delivered a concluding speech at the meeting. Concluding the meeting, Mr. Nguyen Hoang Giang - Chairman of Quang Ngai Provincial People's Committee emphasized the significance of the establishment of the National Center for Industrial and Renewable Energy in Dung Quat Economic Zone for Quang Ngai province. Accordingly, the project will promote investment attraction in the province, increase industrial production value, increase budget revenue and create jobs for people in the province. In particular, the National Center for Industrial and Renewable Energy will contribute to the socio-economic development of Quang Ngai province in particular and the whole country in general. “Regarding some contents that delegates contributed to the issue of land fund, traffic, environment, wastewater, related infrastructure, especially the overall operation of the National LHD&NL Center in Dung Quat Economic Zone based on the proposal of investors, the Department of Industry and Trade added to the project highly convincing opinions and recommendations for the Party Committee of the Provincial People's Committee to approve and submit to the Standing Committee of the Provincial Party Committee”, the Chairman of the Quang Ngai Provincial People's Committee directed. Source: https://bsr.com.vn/?lang=vi#/bai-viet/can-16---20-ty-usd-cho-cac-du-an-tiem-nang-hinh-thanh-trung-tam-loc-hoa-dau-va-nang-luong-quoc-gia-tai-dung-quat