Petrovietnam and Thanh Hóa Province Accelerate Implementation of Key Technology Projects
July 14, 2023 - Vietnam National Oil and Gas Group (Petrovietnam) and the People's Committee of Thanh Hóa Province held a crucial working session to evaluate the implementation results of their cooperation agreement, review and resolve difficulties, and promote the research and implementation schedule of key investment projects in the province.
Key Highlights
- Cooperation conference between Petrovietnam and Thanh Hóa Province
- Assessment of progress in key energy projects
- Solutions to overcome difficulties and accelerate implementation
- Role of projects in local economic development
Strategic Cooperation Background
Petrovietnam, as a key state-owned economic group, has been playing a pioneering role in developing Vietnam's national energy industry. Thanh Hóa Province, with its significant resource potential and strategic location, has been identified as one of the country's key energy centers.
The cooperation between the two parties was initiated through a strategic cooperation agreement, aiming to develop sustainable energy projects, contribute to national energy security, and promote the socio-economic development of Thanh Hóa Province.
Discussion on Key Projects
During the working session, both sides focused on discussing the implementation progress of key projects, including:
- Nghi Son Oil Refinery Project
- Nghi Son Industrial Park and Nghi Son Economic Zone Project
- Renewable Energy Projects (wind power, solar power)
- Energy infrastructure and supporting industry development projects
Details of Key Projects
| Project Name | Scale | Investment Value | Implementation Status |
|---|---|---|---|
| Nghi Son Oil Refinery | 10 million tons/year | $9 billion | Commercial operation |
| Nghi Son Industrial Park | 3,200 ha | $5 billion | Under expansion |
| Offshore Wind Power | 3,000 MW | $7 billion | Under research |
| Solar Power | 1,000 MW | $1 billion | Under implementation |
Outcomes and Commitments from the Working Session
At the conference, both parties agreed on specific solutions to accelerate the implementation of projects, including:
- Establishing specialized working groups to resolve obstacles
- Improving administrative procedures, shortening permit approval time
- Investing in developing synchronized infrastructure
- Enhancing investment attraction in supporting industry sectors
- Developing high-quality human resources for the projects
Significance of the Projects
The cooperation projects between Petrovietnam and Thanh Hóa Province hold particular importance for the country's development:
- Ensuring national energy security
- Promoting industrialization and modernization
- Creating momentum for socio-economic development in Thanh Hóa Province
- Contributing to COP26 commitments on emission reduction
- Creating jobs and improving income for local people
Cooperation Roadmap for the Coming Period
| Time Period | Objective | Targets |
|---|---|---|
| 2023-2025 | Complete infrastructure | 80% of projects operational |
| 2026-2030 | Expand scale | 30% increase in capacity |
| 2031-2035 | Green transition | 50% renewable energy |
Conclusion
In their remarks at the working session, leaders of Petrovietnam and Thanh Hóa Province affirmed their strong determination to promote cooperation and implement key projects. Both sides agreed to continue strengthening coordination and creating all favorable conditions for projects to soon become operational, contributing to the sustainable development of the national energy industry and the local economy.
The cooperation between Petrovietnam and Thanh Hóa Province is expected to become a successful model in developing the energy industry, creating new momentum for economic growth and enhancing Vietnam's position on the regional and global energy map.
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