Source: Biofuels International
The cassava-based ethanol will be sold at Vietnamese petrol stations
PetroVietnam is setting up a new company to manage its biofuel production and distribution.
The new company, PetroVietnam Biofuel Joint Stock, will have an initial capital of about $2.7 million (€1.8 million).
The new company will produce ethanol from cassava. The output will be blended with petrol sold at local petrol pumps to help reduce the country’s fossil fuel dependence.
PetroVietnam General Services Joint Stock (Petrosetco) will hold 51% of the company. PetroVietnam Oil will hold 29%, Binh Son Refining and Petrochemical 15%, and PetroVietnam Finance Joint Stock (PVFC) 5%.
Vietnam aims to produce approximately 250,000 tonnes of ethanol and vegetable oil to meet its petroleum demand by 2015.
Filed under: Other Southeast Asia Countries
