On July 4th, the Quang Ngai People’s Committee announced that the Vice Chairman Trần Phước Hiền signed a decision allowing Binh Son Refining and Petrochemical Company (BSR) to lease nearly 38 hectares of land to upgrade and expand the Dung Quat Oil Refinery (Phase 2). The purpose of the land is for energy construction and public lighting, with a lease term until March 31, 2058. During this period, the company is exempt from rent until March 1, 2047, including 19 years of rent exemption after the basic construction phase is completed. The leased land is located in Vạn Tường commune, part of the Dung Quat economic zone. Dung Quat Oil Refinery is the first oil refinery in Vietnam, with Phase 1 completed in February 2009.
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