Oil joint venture gets license to build refinery in Mekong Delta

The Can Tho Oil Refinery Company, a Vietnam-U.S. joint venture, will invest US$538 million in an oil refinery in the Mekong Delta city of Can Tho.

The joint venture between Ho Chi Minh City-based Vien Dong Trade Investment Co. and US-based Semtech Limited B.V.I received an investment certificate from the Can Tho City authorities Monday.

The refinery, whose construction is expected to be competed in 20 months, will have a capacity of two million tons of crude oil a year.

It will cover 250 hectares in O Mon District.