PetroVietnam advances on two 26 Mgy cassava ethanol projects

In Vietnam, PetroVietnam announced that it has signed contracts to construct two new 26 Mgy cassava ethanol plants in Quang Ngai and Binh Phuoc provinces. PetroVietnam Central Biofuels Joint Stock will build the plant in Quang Ngai, a venture which includes Binh Son Refining and Petrochemical Company (60%), PetroVietnam Finance (10%) and Petrosetco (30%). Construction will be complete in March 2011 for a cost of $83 million.

Japan’s Itochu will partner in the Binh Phuoc plant that will complete construction in September 2011. Vietnam requires up to 300,000 tonnes of ethanol per year to meet its internal targets.

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