Petrosetco, Itochu JV to produce fuel ethanol

The first plant to produce ethanol fuel from biomass in Vietnam is expected to come on line in 2008. Petrosetco Deputy Director Ho Sy Long said. As Vietnam currently relies on imports (an average of 13 million tons of petrol are imported annually) the government has placed the development of fuel ethanol among its top priority. The Vietnam Oil and Gas Group (PetroVietnam) has assigned Petrosetco to a joint venture with Japans Itochu Corp. to build a factory with an ethanol capacity of 100 million liters a year, using primarily cassava as a feedstock (August 25, 2007)