Funding contract worth $60m signed for ethanol plant project

The Orient Bio-Fuel Co Ltd (OBF), the member company of PetroVietnam Oil Corp (PVOil) officially signed the funding contract yesterday August 25 in HCM City in order to provide capital for the Binh Phuoc ethanol plant.

In details, OBF signed the contracts with Agribank, Bao Viet, Vinasiam, Malayan, Indovina, Tien Phong and PetroVietnam Joint Stock Financial Corp for total funding worth $60 million in building the ethanol plant.

As known, the Binh Phuoc ethanol plant has total investment capital of $88.9 million, with total construction period of 21 months. The new plant has total designed capacity of 100 million litres of ethanol per year, and commercial operation is slated to start from April 2012. – TBKTVN

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Posted by VBN on Aug 26 2010. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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