PetroVietnam subsidiary looking at buying out 71% share of ethanol project

March 13, 2014 |

In Vietnam, a wholly owned subsidiary of PetroVietnam, PV Oil, is looking to negotiate with Itochu and Licogi 16 for their 71% share in a in an ethanol joint venture in Binh Phuoc. PetroVietnam had previously rejected by out the majority participation in the $80 million facility.  PV Oil is looking to sell its shares in Central Biofuels JSC partly to help mobilize capital for acquisitions.

Category: Fuels

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