Vietnam builds new ethanol plant

The Petroleum Machine Executing Joint Stock Co. (PVC-ME) has signed a contract with PetroVietnam Construction Joint Stock Corp. to build the biological ethanol plant project in the northern region with a total investment capital of VND117 billion (US$6.17 million). Accordingly, PVC-ME will take responsibility for carrying out construction works on the major items in the project. At the same time, PVC-ME officially introduced the new subsidiary of PVC-ME1 Mechanic Co Ltd. with an initial chartered capital of 20 billion dong (US$1.05 million). The company’s head office is located on Road D1, Zone C, Hoa Mac Industrial Zone, Duy Tien District, Ha Nam province. (June 4, 2010)