HANOI, Vietnam, March 13 Japan's Itochu Corp. and PetroVietnam subsidiary Petrosetco have signed a memorandum of understanding to build a $100 million biofuels facility.Under last week's deal, the facility in Hiep Phuoc industrial park of Ho Chi Minh City will produced .8 percent ethanol to be mixed with gasoline, the Vietnam Investment Review reported.The facility, which uses tapioca chips to make the ethanol, will begin operations in 2009.With 1.2 million tons of tapioca chips annually, Vietnam can produce a minimum of 400 million liters of ethanol, Petrosetco Chairman Tran Cong Tao said. The comments were reported by Vietnam Investment Review reported.The new factory is expected to meet 10 per cent of existing E10 demand in Vietnam, Vietnam Investment Review reported.Six other facilities are planned to make fuel using cassava, maize, sugar sediment and rice.Copyright 2007 by UPI
