Bio-Ethanol Plant to be built in Bình Phước

VGP - PetroVietnam is planning to start the Engineering /Procurement / Construction contract on the Bio-Ethanol Plant in the southern province of Bình Phước in March 2010.

July 25, 2009 8:00 AM GMT+7

PetroVietnam and the People’s Committee of Bình Phước inked a cooperation agreement on the bio-ethanol project, July 24 - Photo: VGP

The plant will be built by PV Oil – a subsidiary of PetroVietnam.

The project is expected to create more jobs for local farmers who can grow cassava and sugarcanes as input materials for the plant.

Also under the agreement, PetroVietnam will survey and seek for opportunities of investment and encourage its subsidiaries to do business in Bình Phước.

In the near future, the group and its members will focus on such projects as the Bio-Ethanol plant; exploring and exploiting clay and puzzolan; infrastructure development; financial and insurance services; and building LPG warehouses and sale network.

Bình Phước pledged to create favorable conditions and procedures for PetroVietnam and its companies to do investment here. The province will help PV Oil to implement the Bio-Ethanol project.

By Xuân Hoàng