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Vietnam National Oil and Gas Company, said recently that the East Biofuels (Orient Biofuels) will invest $ 80 million in a new ethanol plant in southern Vietnam.
It is reported that this ethanol plant in Vietnam Binh Phuoc province will produce 100 million liters of ethanol, it is scheduled for completion within 21 months. Eastern Biofuels company is a joint venture company, Japan's Itochu Corporation accounted for 49% of the shares, Licogi 16 Construction Company holds a 22% stake in Vietnam's national oil and gas company, a subsidiary of PV Oil holds a 29% stake.