Petrovietnam Group proposes to build a 'billion-dollar' industrial - energy center in Can Tho

(Chinhphu.vn) - On August 27, Chairman of Can Tho City People's Committee Tran Van Lau worked with Vietnam National Industry and Energy Group (Petrovietnam) on the Group's proposal to build the Petrovietnam Eco-Energy Industry Center (Center) in O Mon Ward, Can Tho City.

Chairman of Can Tho City People's Committee Tran Van Lau speaks at the working session with Petrovietnam - Photo: VGP/LS

According to Mr. Nguyen Van Tu, Deputy Director of the Petroleum Research Institute, the Center model is a strategic and comprehensive solution of Petrovietnam to contribute to ensuring national energy and food security and implementing the commitment to reduce net greenhouse gas emissions to 0 (Net Zero) by 2050; innovate the growth model and enhance the Group's competitiveness; contribute to the economic development of Can Tho City and the Mekong Delta.

"This is a new development model, superior to traditional industrial parks or economic zones, shaped by 4 core outstanding features: Deep integration and industrial symbiosis, creating a circular ecosystem, optimizing the entire value chain; leading high technology, pioneering the application of biorefinery/biochemical, green hydrogen/ammonia, CCUS; national stature - regional vision are economic growth drivers (national/local), with enough competitiveness in the region", Mr. Tu clearly stated.

Regarding the investment roadmap and expected revenue, Petrovietnam said that the research project determined that by 2030, it would invest 3.4 billion USD, mainly in power plants and bio-methanol. Revenue would be about 2.3 billion USD/year.

By 2035, invest an additional $661 million in sustainable jet fuel (SAF), bio-chemicals, food CO₂ capture and high-tech agriculture . Revenue of about $2.5 billion/year (up $166 million/year).

By 2050, invest 14.3 billion USD in renewable energy (wind, solar), green ammonia and CO₂ capture. Revenue is about 5.6 billion USD/year (increase 3.14 billion USD/year).

"The prerequisites for the success of the model require large capital, modern and advanced technology, a breakthrough legal framework and adherence to the roadmap for implementing Net Zero in Vietnam after 2030," said a representative of Petrovietnam.

The South Hau River area, one of the locations where Petrovietnam proposed to implement the project - Photo: VGP/LS

On that basis, Petrovietnam expects the benefits to attract investment capital of about 4 billion USD by 2035, 15 billion USD in the period 2031-2050.

According to the Group's calculations, when the project comes into operation, it will boost the local economy with a gross revenue of 2.3 billion USD by 2030, 5.6 billion USD by 2050; form new markets and supply chains for GH2/GNH3, biomass, carbon credits; create about 100,000 jobs; increase the budget, develop social infrastructure, improve the quality of life; ensure on-site energy security; apply green technology to reduce 18.5 MTA CO2; contribute about 2% to the target of reducing emissions in the energy sector.

Mr. Bui Minh Tien, Member of the Board of Directors of Petrovietnam, said that the Group's leaders clearly identified Can Tho as the locality given priority to promote the implementation of this project as well as projects that have been and are being implemented here.

Speaking at the meeting, Chairman of Can Tho City People's Committee Tran Van Lau said that the City agreed with the proposal to study the project of Petrovietnam Group on building the Center in the area. As soon as possible (before September 15, 2025), Petrovietnam will complete the research project for the City People's Committee to report to the City Party Committee leaders. From there, the City will add to the land use targets and plans, and report to competent authorities on issues under the Central authority.

The Chairman of the People's Committee of Can Tho City requested the City's departments and branches to coordinate closely and effectively with Petrovietnam, not to "do it back and forth", wasting a lot of time and effort of the Group and the City. In particular, for the legal issues of the project, it is necessary to ensure compliance with regulations, with the spirit of urgency to implement immediately after being approved by competent authorities.

Le Son

Source: https://baochinhphu.vn/tap-doan-petrovietnam-de-xuat-xay-trung-tam-cong-nghiep-nang-luong-ty-do-tai-can-tho-1022508271519541.htm