Bình Phước ethanol plant to resume operation
Bình Phước ethanol plant to resume operation
National Oil and Gas Group (PetroVietnam) said it was coordinating with relevant
partners to prepare for the resumption of Binh Phuoc Ethanol Plant in the southern province of Binh Phuoc.
According to Bui Ngoc Duong, who is in charge of PetroVietnam’s Gas and Oil and Gas Processing Department, shareholders Toyo Thai New Energy, PetroVietnam Oil Corporation (PVOIL) and Licogi 16 Joint Stock Company (Licogi 16) have contributed capital to prepare for the reopening of the plant.
Joint venture contractor VSP-Licogi 16 has completed the maintenance and repair in the first stage, making it ready for resumption of operations.
Regarding the recruitment and training of human resources, the project’s investor, Orient Bio-Fuels (OBF) Co Ltd, has recruited key personnel and conducted training courses for the maintenance, repair and operation of the plant.
PVOIL and OBF have also negotiated a contract for product consumption. PVOIL will invest money, which will be used by OBF as floating capital to buy material for production.
The Binh Phuoc Ethanol Plant started operations in April 2012 and produced more than 16,000cu.m of ethanol. However, production was stopped due to losses caused by difficulties in product consumption.
PVOIL, a subsidiary of PetroVietnam, has contributed 29 per cent of the project’s capital, while Toyo Thai New Energy’s capital has contributed 49 per cent.
