Dung Quat Economic Zone Management Board on September 21 granted an investment license to the Central PetroVietnam Biofuel Joint Stock Company to build a bio-ethanol production plant. The Dung Quat Bio-ethanol Plant has a total investment capital of VND 2 trillion and is equipped with modern processing technology. It is expected to use 220,000 tonnes of cassava every year as the main feedstock to turn out annually 100 million tonnes of ethanol to be used as a biofuel alternative to gasoline. The factory, scheduled for completion by 2010, is an investment of the Central Oil and Gas Biofuel Joint Stock Company, jointly set up by three subsidiaries of the Vietnam National Oil and Gas Group (PetroVietnam): PetroVietnam Tourism and Service Company (Petrosetco), the Binh Son Refining and Petrochemical Company and the PetroVietnam Finance Company.
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