According to the agreement, Petrovietnam will conduct studies, surveys, and seek investment opportunities for projects suitable to the Group’s capacity in Binh Phuoc province. The Group will also create favorable conditions for its enterprises to either invest independently or cooperate, form joint ventures, and partnerships with local enterprises on projects of mutual interest.
Initially, Petrovietnam and its member units will focus on projects in the province such as: building a bio-ethanol production plant, studying investment in clay and pozzolan mining projects, researching infrastructure development projects, studying the development of LPG, gasoline and oil storage systems, as well as expanding the business network of LPG, gasoline, oil, and fertilizers in the province.
On the side of Binh Phuoc, the Provincial People’s Committee (PPC) will instruct relevant departments, sectors, and localities to provide the best possible conditions, resolve necessary procedures for Petrovietnam and its member units in selecting investment projects, handling site clearance, land procedures, granting investment certificates, and business registration to effectively implement projects in Binh Phuoc.
The Binh Phuoc PPC will actively support Petrovietnam in rapidly and smoothly implementing the bio-ethanol production plant project, particularly procedures related to land for the plant.
This project has a capital of USD 31 million, scheduled to commence in 3/2010. Once operational, it will consume 230,000 tons of cassava chips per year from 10,000 cassava-farming households in remote areas and ethnic minority communities.
(TTXVN 25/7)
