The construction of the first ever oil refinery in the Saysettha Comprehensive Development Zone, Vientiane is expected to be completed in mid-next year.
The refinery is expected to have an annual production capacity of 800,000 tonnes of oil.
The refinery construction project began in 2014 as an investment of the Lao-China Dongyan Petrochemical Co., Ltd (LCPC), a joint venture between Yunnan Dongyan Industrial Co., Ltd which holds 75 per cent of its shares, the Lao State Fuel Company 20% and the Lao-China Joint Investment Co., Ltd 5%.
Once operational, the refinery will become among the nation’s largest industrial enterprises and be able to supply about 60 per cent of fuel in Laos.
As of now, the project has been 40 per cent completed, according to Deputy Director of the Lao State Fuel Company Mr. Phaiboun Phomphaphithuk.
Sitting on over 218,677 sq m and worth US$179 million, the oil refinery project involves the construction of three buildings, 16 oil tanks which have a total storage capacity of 80 million litres.
Laos imported 1.3 million litres of oil annually, according to Mr. Phaiboun.
Source: Lao News Agency