U.K Firm Joins US$137.5 Mln Ethanol Plant in Central Vietnam
The U.K Bronzeoak will join hands with PetroVietnam Tourism Service and Services JS Corp (Petrosetco) to build a bio-ethanol plant at a cost of VND2.2 trillion (US$137.5 million) in central Quang Ngai province.
Of the total investment, Petrosetoc holds a 51 per cent stake and the U.K. company the rest of 49 per cent, Nguyen Xuan Hue, a provincial official said.
The two sides have recently worked with the provincial government for the plant’s location in local Dung Quat Economic Zone, he attributed.
The plant, set to cover 30-50 hectares, will has a capacity of 150 million liters of ethanol per annum, which will then be used to blend with gasoline to fuel industrial and transport activities.
Detail information about the kick-off date of the project has not yet been made available.
Recently, the Japan-based Vietnam Institute of Economic Research said will invest US$160 million to build an ethanol plant in central Quang Nam province.
By 2015, Vietnam will strive to turn out 250,000 tons of ethanol and vegetable oil to fuel 1 per cent of the national gasoline demand. (Vietnam & World Economy, Saigon Liberation)
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