The joint-venture Bio Ethanol Thai-Viet Joint Stock Co has received a license from Ninh Thuan Province authorities to build a plant to manufacture ethanol, fertilizers, and animal feed.
With an investment of VND950 million (US$50 million) the largest FDI project licensed by the coastal province this year, it is a joint venture between Bio Ethanol Thailand, which holds a 70 percent stake, and three Vietnamese partners.
It is located in Thuan Nam District’s Phuoc Nam Industrial Park and will also have, besides the plant, offices, research and development facilities, and support facilities.
Construction is set to begin next year and the plant will go on stream by the end of 2012 or early 2013.
The company plans to grow thousands of hectares of corn and other crops to provide raw materials for the plant which will produce over 60 million liters of ethanol annually for the domestic market and export to Europe, Japan, Thailand, and Korea.
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