Vietnam venture: Biofuels firm makes its first foreign leap
The new division of the Biotechnologies state corporation plans to build a bioethanol producing plant together with PetroVietnam and domestic financial group Metropol, acoording to the Kommersant business daily.
The plant will produce up to 100 thousand tonnes of bio-fuel annually.
Some experts, however, are sceptical about the chances of success for the project, due to the high price of raw materials and the lack of development in the region’s biofuels market.
So far, Russian companies’ dealings with PetroVietnam have been limited to oil and gas.