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Work on Nghi Son refinery ‘kicks off’

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KUWAIT CITY, Nov 27: According to reliable sources, the Nghi Son Refinery and Petrochemical Complex Company (NSRP) in the Republic of Vietnam has already started implementing the recommendations of the study on a comprehensive transformation of the refinery, especially after overcoming the technical and operational problems of the refinery and fixing the technical defects, reports Al- Rai daily. They highlighted their confidence that the refinery will return to work in an exemplary manner.

The sources revealed that the refinery company reduced the annual operating costs by approximately 25 percent, compared to the operating costs at the time of commercial operations. They stressed that the refinery company assigned a financial advisory house to support it in its negotiations with banks and financiers regarding financial restructuring and debt scheduling. The sources said, “The financing banks have given preliminary approval to schedule the refinery loan and extend the end of the loan term by two additional years so that the refinery company can get out of financial hardship and be able to pay its debts, with the participation of all partners, each according to his share of ownership, in order to provide the necessary liquidity and maintain the operation of the refinery at its full capacity”.

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