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HANOI, Oct 18 (AFP): Vietsovpetro, a joint-venture between Russia and Vietnam oil and gas corporation PetroVietnam has been granted a 245 million dollar contract to build a gas pipeline in southern Vietnam, an official said Tuesday.
"The contract for the 325 kilometre pipeline was signed Monday," said Do Dinh Luyen, head of the gas and power department of PetroVietnam.
"The pipeline will link the offshore PM3 block with Khanh An village in southern Ca Mau province" where a power station will be located, he said adding the pipeline would carry two billion cubic meters of gas ashore each year.
After 65 weeks under construction, the pipeline is expected to be operational by late next year.
The English-language Vietnam News daily said about 70 per cent of the money for the project will be borrowed from international and domestic commercial banks. The remainder will be provided by PetroVietnam.
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