PetroVietnam signs deal for ethanol plant

The PetroVietnam Bio-ethanol Company (PVB) signed an US$80 million engineering, procurement and construction contract with a consortium who will build the first biofuel factory in Vietnam, to be located in northern Phu Tho Province. The consortium consists of PetroVietnam Constructions Joint Stock Corporation, Alfa Laval and Delta T. The factory, which is expected to be completed in 18 months, will produce ethanol from sugarcane and cassava. The project forms part of the national biofuel development programme, which runs until 2015. (June 15, 2009)