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| (From right) Jindaratana Twiltermsup (3rd), chairwoman of the BIO Ethanol Thai-Viet Joint Stock Company, shows the investment certificate after receiving it at a function in Ninh Thuan Province last week - Photo: Courtesy of BIO Viet Thai Company |
Nguyen Chi Dung, chairman of the province, presented the investment certificate to Jindaratana Twiltermsup, chairwoman of the BIO Ethanol Thai-Viet Joint Stock Company, at a function in the province. This is the biggest FDI project licensed there this year.
The company is a joint venture between three Vietnamese shareholders and BIO Ethanol Thailand Co., Ltd. with the foreign partner contributing 70% of the capital.
The joint venture has plans to lease more than 60 hectares in Phuoc Nam Industrial Park in the province to develop the project, which will include an office block, a research and development (R&D) facility, and supporting areas for waste and water processing.
Responsible for the project design and construction will be EC Chemical Bio Co. Ltd., a leading contractor in design, development and training for ethanol factories and holder of American Katzen license in applying the latest ethanol technologies, according to the company in a statement.
According to plan, the company will prepare for the construction and installation of the manufacturing facilities next year to be operational at the earliest by the end of 2012 or early 2013.
The project upon completion will expectedly supply more than 60 million of litters of ethanol each year for domestic consumption and export to key markets of Europe, Japan, Thailand, and Korea among others, according to the company.
The company will also manufacture 11.3 tons of fertilizer and 39 tons of animal feeds made from wastes per day.
Besides, the firm will also grow tens of thousands of hectares of material crops for the plant. The factory, when reaching full capacity, will need a huge workforce and thus provide stable employment and livelihood for thousands of farmer households in Ninh Thuan and nearby provinces.
Produced by fermenting and distilling low-cost starch-containing cereals or plants and trees containing cellulose, ethanol is drawing the interest of many governments as a less polluting and energy saving substitute fuel.
In line with the Biological Energy Development Project by 2015 and vision by 2025 approved by the Prime Minister on November 20, 2007, projects in this field are receiving substantial support from local authorities.
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