At Rach Gia City, Kien Giang province on 21st October 2011, Kien Giang Tourism and Trade Single-Member Joint Stock Company Limited (KTC) and the Single-Member Petroleum Company Region 2 (PETROLIMEX Saigon) held the ceremony for the founding and coming into operation of Kien Giang Petroleum Company Limited (Petrolimex Kien Giang).

General view of the ceremony

Present at the ceremony were Mr. Le Van Thi, Vice Secretary of the Provincial Party Committee / Chairman of the People’s Committee and leaders of related authorities of Kien Giang Province.

On the part of Petrolimex group, Mr. Bui Ngoc Bao, Chairman of Board of Members (BoM) / Director General , Mr. Vu Ngoc Hai, Former Chairman of BoM, and Chairmen and Directors of Petrolimex member companies of south western region: An Giang, Dong Thap and Ca Mau were present.

Also present at the ceremony were Mr. Lieu Van Lo, Chairman of KTC BoM, Mr. Nguyen Hung Linh, Director of the Company, and other BoM members, department managers and Directors of KTC member units.

On the part of Petrolimex Saigon, there were Mr. Tran Van Thang, Chairman and Director, MM Dang Duy Quan and Nguyen Van Canh, Vice Directors, and Managers of various departments, and Directors of subsidiary units.

Mr. Lieu Van Lo, Chairman of KTC BoM, representing the two partners reported on the cooperation process and the necessity of founding Petrolimex Kien Giang
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Mr. Bui Ngoc Bao, Petrolimex Group Chairman and Director General thanked Kien Giang Province and gave instructions to Petrolimex Kien Giang.
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Mr. Le Van Thi, Chairman of Kien Giang People’s Committee gave Certificate for Investment of Kien Luong Oil Terminal and Certificate for Business License for Petrolimex Kien Giang
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Mr. Le Van Thi, Chairman of Kien Giang People’s Committee gave welcome speech and instructions for the new company
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Mr. Nguyen Hung Linh, Director General of KTC and Mr. Tran Van Thang, Chairman and Director of Petrolimex Saigon welcomed and gave bouquets of flowers to members of BoM and Board of Directors

Since 2007, the two companies set up a steering committee for the establishment of an oil terminal at Kien Luong ( estimated tank capacity at 100,000cbm in which 40,000cbm in the first phase, and a berth capable of receiving tankers up to 10,00 tons) in the form of a joint equity, up to now, the project was granted approval and certificate of business license for Petrolimex Kien Giang with a registered capital of 100 billion Vietnamese dongs (KTC 49%, Petrolimex 51%) .

Mr. Nguyen Van Canh, Chairman of Petrolimex Kien Giang BoM acknowledged instructions and outlined development directions of the company

Mr. Bui Quoc Thai, Director of Petrolimex Kien Giang, received his mission and committed to operate the company

Petrolimex Kien Giang came into trading operation along the following strategic orientation :

To closely coordinate with KTC’s oil enterprise in the development of Kien Giang province oil market and other Petrolimex members in the adjacent area. To make full use and develop to the utmost the advantages, strong points and achievements gained during the cooperation between KTC and Petrolimex in order to develop the company. To intensify and maximize the speed of building the oil terminal at Kien Luong in order to master the oil source of supply. To concentrate on the building of oil stations, agents and trading organizations of all channels to timely meet economic development, defense security and people’s consumption. To develop petrochemical products (lubricants, LPG…) for the market and adjoining area. To start with advantageous services relating to oil such as the stock-keeping for the society, for national reserve, oil-related technological services, treatment of oil contaminated waste and environment safety service in order to add value to and expand business scope of the enterprise. To organize the management of the enterprise by advanced management norms. To inherit and creatively develop trading experience of KTC, Petrolimex Vietnam and Petrolimex Saigon . To recruit workers from local labour force and turn them into a dedicated, professional and civilized staff.