The Bio Ethanol Thai-Viet Joint Stock Company received Monday an investment certificate from Ninh Thuan Province to build a manufacturing complex for ethanol, fertilizers and animal feeds in the central province.
An unidentified lady who represents Bio Ethanol Thai-Viet Joint Stock Company receives an investment certificate from a Ninh Thuan representative in the province on August 30, 2010 (Photo: Le Thi)
Capitalized at VND950 billion, equivalent to almost US$ 50 million, the complex is the largest foreign-invested project licensed in the coastal province this year.
Located in Thuan Nam District’s Phuoc Nam Industrial Park, the project is a joint venture between Bio Ethanol Thailand, which holds a 70% stake, and three Vietnamese partners.
Bio Ethanol Thai-Viet Co. plans to lease more than 60 hectares of land in the industrial park to build a factory, offices, research and development facilities, and supporting sections.
Construction work is set to begin next year and the complex is scheduled to start operations by the end of 2012 or early 2013.
Parallel to the development of the manufacturing facilities, the company plans to grow dozens of thousands of hectares of material crops for the plant. Company management said they would give priorities to local workers in recruitment.
The project will be designed to provide over 60 million of litters of ethanol annually for the domestic market and such overseas markets as Europe, Japan, Thailand and Korea.