The PetroVietnam Gas Corporation (PV Gas) and its contractors signed a US$114 million contract on November 30 to build the Thi Vai liquefied petroleum gas (LPG) depot in Ba Ria-Vung Tau province.
The contractors, the PetroVietnam Construction Corporation (PVX) and the Daewoo Engineering Company (DEC) from the Republic of Korea , will carry out the project within 22 months after the contract comes into effect.
Under the terms of the EPCC (engineering, procurement, construction and commissioning) contract, PVX will carry out works to the tune of US$59 million , while DEC will perform works worth US$55 million .
Covering a site of 5.3 hectares in the Cai Mep Industrial Zone, the depot is capable of storing 60,000 tons, equivalent to 15,000 m3 of LPG, making it the largest of its kind in Vietnam .
The depot is expected to help PV Gas stabilize its supply of LPG to the local market and ensure the nation’s energy security.
Vietnam now houses 26 LPD depots, with a total capacity of 61,000 m3, mainly in the northern port city of Hai Phong , the central port city of Da Nang , the southern province of Dong Nai , Ho Chi Minh City , the Mekong Delta city of Can Tho and the oil-rich province of Ba Ria-Vung Tau.
