Korea and Lao create $20M JV to produce ethanol

In Lao, the Vietnam News Agency reports that Korea’s GAIA Petro Co. has agreed to jointly invest $20 million together with the Lao State Fuel Company in a 500,000 liter per day ethanol project in Dongphosy village in Hadxayfong district of Vientiane capital. GAIA is the majority shareholder with 55% of the new JV while the rest of the shareholding is split evenly between Lao State Fuel Company and local investors. The first year after commission is expected to see 10 million liters of production with an additional 20% coming online the year afterwards.

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