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Vietnam Business » Vietnam Economic News » Vietnam Ethanol plant project gets off the ground

Vietnam Ethanol plant project gets off the ground

Construction of a US$80 million bio-ethanol plant began in the southern province of Binh Phuoc on Saturday to provide an important source of fuel for the economy in the coming years. Located in Bu Dang District, the factory will have a 100 million liter capacity and will consume 240,000 tons of sliced cassava each year. The ethanol products will be mixed with petrol products from Dung Quat Oil Refinery and then launched onto the local market.

This is a four-party joint venture, with the single foreign partner Itochu Group from Japan holding a 49% stake, PetroVietnam 29%, Licogi 16 Co. 22%, and Orient Bio-fuel Co. Ltd. (OBF) the remainder. It is expected the plant will be completed within the next 21 months.

Indias Praj Industries is the projects technology provider while Thailands Toyo Co. and PetroVietnam Engineering will serve as engineering-procurement-construction (EPC) contractors.

The plant is part of PetroVietnams bio-fuel development program, which the Government passed in 2007. The bio-fuel products will help boost engine duration and reduce environment pollution.

By-products will include carbon dioxide (CO2), certified emission reductions (CERs) and micro-organic fertilizers. OBF earlier signed a contract to sell crude CO2 to Germanys Messer. Under the contract, Messer will also build a liquefied CO2 mill at the factory that can produce 70 tons per day.

The plant will join with PetroVietnam Fertilizer and Chemicals Co. to produce fertilizer from its residue to serve cashew, cassava and industrial plant cultivation in the province.

Vietnam Business And Financial News Network. Source [english.thesaigontimes.vn]

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