Dung Quat Refinery Expansion Secures $600m Loan Proposal in Vietnam

In early August 2026, BSR, the operator of Vietnam's Dung Quat refinery, issued a Request for Proposal (RfP) to banks and international financial institutions to arrange a loan of roughly US$600 million, representing about 40 % of the US$1.489 billion expansion project. The financing options include a loan insured by the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group, export‑credit‑agency‑backed loans linked to the EPC contract, or commercial international loans.

A MIGA delegation inspected the project site in June 2026. BSR plans to complete the evaluation and select a lead financing bank in Q4 2026, finalize credit documentation thereafter, and be ready to disburse the loan by Q3 2027, using equity funding in the interim to keep the schedule. Upon completion, the refinery’s crude‑oil processing capacity will rise from 148,000 to 171,000 barrels per day, upgrade product quality to Euro V standards, and broaden feedstock flexibility for domestic and imported crude. The Dung Quat refinery, Vietnam’s first and largest domestically owned plant, is expected to boost national refined‑product supply and strengthen energy security.