Oil group embarks on two big ethanol projects
The Vietnam National Oil and Gas Group
(PetroVietnam) said it is working on two ethanol projects, following
its first venture in the northern midland province of Phu Tho.
The Vietnam National Oil and Gas Group
(PetroVietnam) said it is working on two ethanol projects, following
its first venture in the northern midland province of Phu Tho.
The projects, each estimated to cost 80 million USD will produce 100,000 tonnes of ethanol a year and will be built in central Quang Ngai and southern Binh Phuoc provinces.
PetroVietnam said that an engineering, procurement and construction (EPC) contract for the Quang Ngai-located plant is scheduled to be signed next month.
Meanwhile, a joint venture between PetroVietnam’s Oil Corporation and the Itochu Company from Japan was set up to carry out the project in Binh Phuoc.
The joint venture is conducting a report on investment, environmental impacts and a geographical survey. It expects to sign an EPC contract to build the facility in March 2010 and begin production by 2012.
PetroVietnam began constructing the country’s first ethanol plant in Phu Tho on June 21.
The 80 million-USD project is scheduled to become operational by the end of 2010 or early 2011 to produce 100,000 cu.m of ethanol a year from cassava and sugarcane.
Its products are not only environmentally friendly and reduce CO2 emissions but will also help reduce poverty amongst cassava and sugarcane farmers in the region.
Vietnam currently imports 3 million tonnes of petrol each year. Once all the three projects are put into operation, PetroVietnam will be able to fully meet domestic demands for ethanol./.
The projects, each estimated to cost 80 million USD will produce 100,000 tonnes of ethanol a year and will be built in central Quang Ngai and southern Binh Phuoc provinces.
PetroVietnam said that an engineering, procurement and construction (EPC) contract for the Quang Ngai-located plant is scheduled to be signed next month.
Meanwhile, a joint venture between PetroVietnam’s Oil Corporation and the Itochu Company from Japan was set up to carry out the project in Binh Phuoc.
The joint venture is conducting a report on investment, environmental impacts and a geographical survey. It expects to sign an EPC contract to build the facility in March 2010 and begin production by 2012.
PetroVietnam began constructing the country’s first ethanol plant in Phu Tho on June 21.
The 80 million-USD project is scheduled to become operational by the end of 2010 or early 2011 to produce 100,000 cu.m of ethanol a year from cassava and sugarcane.
Its products are not only environmentally friendly and reduce CO2 emissions but will also help reduce poverty amongst cassava and sugarcane farmers in the region.
Vietnam currently imports 3 million tonnes of petrol each year. Once all the three projects are put into operation, PetroVietnam will be able to fully meet domestic demands for ethanol./.
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