Lý do mình không biết: Chắc là vì đây là dự án 100% vốn nước ngoài và PVN không tham gia.
Vốn đầu tư: $3 tỷ
Vị trí: Vũng Ro, Phú Yên
SPV: Vung Ro Petroleum
Sponsor: Technostar Management and possibly Dmitry Arzhanov
Financial adviser: StormHarbour Securities
Feasibility study: Honeywell and JGC
EPC contractor (expected): Japan's JGC or Korea's SK
Funding: JBIC/Nexi or Kexim/K-Sure financing
Offtakers: PetroVietnam and/or BP and or Morgan Stanley
In-service date (expected): 2016.
Thông tin tổng hợp từ Project Finance Magazine.
Vung Ro refinery adviser mandated
2 July 2012
Project Finance
© Copyright 2012 Euromoney
Institutional Investor plc.
The developer of the $3 billion Vung Ro
refinery project in Vietnam has mandated StormHarbour Securities as its
financial adviser. Technostar Management owns project company Vung Ro
Petroleum, and is likely to source equity for the project from its strategic
investor, Dmitry Arzhanov, who also owns Russian power retailer
Transneftservices-S. The debt financing is set to rely heavily upon export
credit agencies and development banks, and the sponsor and its adviser expect
to approach the lending market later this year.
Before the project's financing can be
launched to market, the developer will need to firm up its construction, supply
and offtake arrangements. Honeywell and Japanese contractor JGC have been
producing feasibility studies for the project, and JGC and Korea's SK are
possible candidates for the project's engineering, procurement and construction
contract. If they are successful it would allow the project to access JBIC/Nexi
and Kexim/K-Sure financing, though the construction package will need to be
strong enough for lenders to dispense with sponsor construction completion
guarantees.
The project is located in Phu Yen
province, on Vietnam's south central coast, and will be the first
wholly-foreign owned venture on the province, and would be the first refinery
project in Vietnam in which PetroVietnam is not an equity investor. The
project will refine imported crude for sale into the domestic market, and
PetroVietnam could be an offtaker. BP and Morgan Stanley are also potential
offtakers and suppliers of the project, and they participate in both
supply and offtake contracts would provide the sponsor with some control over refining
margins.
The developer plans to build a storage
facility at the site first, with the aim of producing some initial revenues to
fund later work on the process facilities. This may need to be funded with an
upfront equity contribution, but would minimise the total required equity
contribution. If the developer can close financing as planned early in 2013, it
could be online by 2016.
