Last updated: 16:27 - March 10, 2007
Japan helps build Vietnam's first bio-ethanol plant http://www.nhandan.com.vn/english/business/100307/business_j.htm
The Petroleum Services and Tourism Company (Petrosetco) and Japan's Itochu Co-operation will set up a joint venture to build a bio-ethanol plant, the first of its kind in Vietnam.
The two partners signed a Memorandum of Understanding on the issue in Ho Chi Minh City on March 9.
The US $100 million project will turn out 100 million litres of ethanol each year, from sliced cassavas, which will be sold in Vietnam to mix in petrol used in industrial production and transport activities.
The mixing of ethanol in petrol will help the country reduce its petrol imports as well as cut environmental pollution, said Tran Cong Tao, Petrosetco's chief of executive.
Itochu group, with its 30 years of experience handling ethanol projects, is willing share its knowledge with the Vietnamese partner and will contribute to the first successful bio-ethanol project in Vietnam, according to Itochu's deputy executive director Toshio Shigemi.
Deputy Minister of Industry Do Huu Hao and Vice Chairman of the municipal People's Committee Nguyen Trung Tin spoke highly of the co-operation between Petrosetco and Itochu to create a new kind of energy for Vietnam. The two officials also pledged to assist the project and expressed hope that the plant will soon be operational.
Construction of the plant, which will be located in Hiep Phuoc industrial zone, is expected to be completed in the first quarter of 2009 (VNA)
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