PET raises ownership cap at Bio-ethanol Dung Quat to 51pct

VNStockNews.com - PetroVietnam general Services Joint Stock Corp (coded PET) has recently increased the holding rate at Bio-ethanol Dung Quat project to 51 percent. The project has total investment capital of $120 million, with three main capital contributors of PET, PVFC and Binh Son Refining and Petrochemical Co Ltd.

At present, the contractors are carrying out ground clearance process. It' expected that the project will be put into operation in 2011.

The Bio-Ethanol Dung Quat Plant has designed capacity of 100 million litres of ethanol per year. The products will be mix with petroleum products under the ratio of 5-10 percent.