Thai energy company PTT has joined with Saudi Aramco, the world's biggest oil producer, to submit a proposal to the Vietnamese government to build a $22 billion refinery and petrochemical complex in Vietnam. State-controlled PTT and Aramco will each own 40% of the project at Binh Dinh's Nhon Hoi economic zone, with the Vietnamese government holding the remaining 20%. Aramco will help supply crude to an oil refinery with capacity of 400k bpd. The project includes an olefins and aromatic petrochemical plants with combined capacity of 5 million ton a year. The completed project would help to meet Vietnam's domestic demand for oil products and boost its exports.