LSS: Contributing capital to build up a factory

LamSon Sugar Joint Stock Corporation (LSS: LASUCO JSC) signed a contract with PV Oil, Zarubezhneft Joint Stock Company of Russia and Biotechnology Corporation (*) of Russia to set up a Vietnam Biotechnology Company (*) and deploy a building project of a factory produced BioButanol and other products from materials contained xenlulo at Thanh Hoa with 100,000 tons / year of capacity.

According to the contract, Vietnamese side will contribute 51% of capital included 30% of LASUCO JSC, 21% of PV Oil and Rusian side will contribute 49% of capital.

Attendance partners are considering the project with related organs to bring out a feasible plan and submit to Ministry of Planning & Investment and People’s Commitee of Thanh Hoa Province.

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