The Hai Phong Paper Joint Stock Company (Hapaco) on April 14 signed a new contract with Evagor of Germany, under which the German firm will provide consultancy for Hapaco’s oil refinery project and build the plant.

Under the contract, Evagor will make a feasibility study for the project; provide construction consultancy, loans and equipment; transfer technology; and operate the oil refinery at the Hai Phong-based Dinh Vu Industrial Zone in the first stage.

Evagor will contribute US$128 million to the US$150 million project.