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Ninh Thuan province attracts FDI in ethanol production
The central province of Ninh Thuan has become the third locality in Vietnam that received foreign directed investment (FDI) in producing bio-ethanol.
Covering an area of 60 hectares in Phuoc Nam Industrial Park, the US$50 million manufacturing complex for ethanol, fertilizers and animal feeds of Thai-Viet Bio Ethanol JSC is a joint venture between Thai investors, which holds 70 percent of stake and Vietnamese partners.
With construction work starting in 2011 the project will go into operation by the end of 2012 to provide over 60 million of litres of ethanol annually for the domestic market and overseas markets such as Japan, Thailand, the Republic of Korea and the European Union.
In addition to manufacturing facilities, the company also plans to invest in planting material trees, thus generating jobs for thousands of farmers in Ninh Thuan and neighbouring provinces.
Earlier, two Japanese projects with a combined annual capacity of 220 million litres of ethanol were licensed in the Central Highland province of Dak Lak and the southern province of Binh Phuoc.
Considered a clean fuel, bio-ethanol is likely to replace the traditional fossil fuels in the future.
Attracting FDI in using or producing clean energies for sustainable growth is also one of the Vietnamese government’s priorities.
vov
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