11-06-08 Vietnam's leading national oil and gas group, PetroVietnam, inaugurated a subsidiary company -- the Binh Son Refining and Petro-chemical Co -- in the central Quang Ngai Province's Binh Son District.
At the inauguration ceremony, Deputy Prime Minister Hoang Trung Hai stressed the significance of the newly established company in supporting the national Dung Quat oil refinery, also located in Binh Son District. Hai said that the firm will train workers for the country's first oil refinery, Dung Quat, and refineries planned for Nghi Son in northern Thanh Hoa Province and Long Son in the southern Ba Ria-Vung Tau Province.

Binh Son Co has a charter capital of VND 30 bn ($ 1.88 mm). It will deal in production, processing, trade, transportation, storage and services, supporting petrochemical products, equipment, research, development and training.
Dung Quat oil refinery has an investment capital of $ 2.5 bn with a designed capacity at 6.5 mm tons of oil per annum.

During the Deputy Prime Ministers visit to Quang Ngai Province one day earlier, he told provincial authorities that other than tightening spending, the province should exploit its land potential to attract investment and development to help rein in inflation.