A Russian business delegation went on a fact-finding tour to Vietnam’s central Binh Dinh province to have a better look at the Nhon Hoi Oil Refinery Complex, which will be built in the locality, state-run Vietnam News Agency reported.

The report quoted Igor Soglayev, general director of Sarvors Company under the Russian Rosneft Oil and Gas Group who led the delegation, as saying that Rosneft had worked with the PTT Public Company Limited (PTT) of Thailand, the project’s investor, to announce its intention to become one of PTT’s strategic partners in the project.

Rosneft is now one of the world’s leading petroleum groups, with production capacity of 250 million tonnes of oil per year and annual profit of $2.8 billion.

The Russian official asked about the transparency of Nhon Hoi Economic Zone’s investment incentives, infrastructure and working conditions.

He said the project would need at least $25 billion in investment capital and 20,000-30,000 regular workers. Therefore, it would require basic and huge support from the Vietnamese government and the provincial authorities.