CNPC plans to build bioethanol plant

China’s largest oil and gas producer, China National Petroleum Corp. (CNPC), said it is planning to build a bioethanol plant in Zhoushan in Zhejiang Province, which will produce ethanol from imported dried cassava. The project will require an investment of 32.6 billion yuan (US$5.2 billion) and will have an annual capacity of 300,000 tons. (December 27, 2011)