US$80 million ethanol plant to open in Vietnam

Center Bio-Technology has just invested VND112 billion (US$5.3 million) for the construction of the Dung Quat Ethanol Plant, which was started in September 2009. The project, which costs around US$80 million, is nearing completion and is in pilot operation. Center Bio-Technology is a joint-stock company, and is an affiliate of Petro General Services Joint Stock Corporation (Petroseco). The company sold 6 million shares at VND 110.8 billion (US$5.3 million) and bought 12% of the total shares in the Dung Quat Ethanol Plant. The plant will be officially opened in October 2011. (September 15, 2011)