De Raj Group AG announced the signing of a Memorandum of Understanding (MoU) with Binh Son Refining & Petrochemical Company to finance and execute the expansion of its Dung Qu?t Refinery in Quang Ngai Province, Vietnam. This is a highly profitable business with an annual turnover of about USD 4.6 billion and a current market capitalization of USD 1.16 billion with a recorded EBITDA of about USD 290 million in 2018. De Raj Group's scope of work involves upgrading and expansion of the Dung Qu?t refinery. This includes upgrading two offshore terminals which allow ships of 50,000 Deadweight tonnage (DWT) loading capacity and other terminals that allow ships of 30,000 DWT loading capacity which enhances the stability of product delivery. This also minimizes the cost of importing products.