The National Oil and Gas Group (PetroVietnam) said it is coordinating with relevant partners to prepare for the resumption of Binh Phuoc Ethanol Plant in the southern province of Binh Phuoc.
A corner of Binh Phuoc Ethanol Plant (Source: PetroVietnam)
Hanoi (VNA) - The National Oil and Gas Group (PetroVietnam) said it iscoordinating with relevant partners to prepare for the resumption of Binh Phuoc EthanolPlant in the southern province of Binh Phuoc.
According to Bui Ngoc Duong, who is in charge of PetroVietnam’s Gas & Oiland Gas Processing Department, shareholders - Toyo Thai New Energy, PetroVietnamOil Corporation (PVOIL), and Licogi 16 Joint Stock Company (Licogi 16) - havecontributed the lacked capital to prepare for the re-opening of the plant.
In addition, the joint-venture contractor VSP-Licogi 16 has completed the maintenanceand repair in the first stage, making it ready for resumption.
Regarding the recruitment and training of human resources, the project’sinvestor - the Orient Bio-Fuels (OBF) Co., Ltd. recruited key personnel as wellas carry out training courses to serve the maintenance, repair and operation ofthe plant.
PVOILand OBF also negotiated a contract for product consumption. Accordingly, PVOILwill advance money, which will be used by OBF as floating capital to buy materialsfor production.
The BinhPhuoc EthanolPlant startedits operation in April 2012 and produced over 16,000 cu. of ethanol. The productionwas then stopped because of business losses caused by difficulties in product consumption.
PVOIL - a subsidiary of PetroVietnam, contributed29 percent of the project’s capital, while ToyoThai New Energy’s capital accounted for 49 percent of the total.-VNA
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A corner of Binh Phuoc Ethanol Plant (Source: PetroVietnam) 
