Vietnam to allow Phu Tho ethanol plant to go bankrupt

In Vietnam, the government is expected to allow the Phu Tho ethanol plant to go bankrupt despite the push to bring mothballed plants back online as it seeks to boost domestic production because the business model of the facility mixed with its unfavorable location mean it will never be viable. Construction started on the $74 million facility in 2009 with expectations of going online in 2012 but by 2011 the budget had ballooned to more than $104 million and construction was abandoned.