Laos to produce biofuel to reduce imports | World

On the signing ceremony (Photograph: KPL)

Vientiane (VNA) – The Lao Authorities
is planning to supply biofuel in an effort to scale back reliance on imported
fuels.

Lately, the Lao State Gasoline Firm signed an settlement with GAIA Petro
Co., Ltd. of the Republic of Korea to launch a biofuel manufacturing undertaking price 20
million USD in Laos.

The undertaking will likely be situated in Dongphosy village in Hadxayfong district of Vientiane capital.

The GAIA
Petro Co., Ltd. holds a 55% of shares of the undertaking, 22.5% is owned by the Lao
State Gasoline Firm, and 22.5% by native buyers.

The
joint-venture goals to supply 500,000 litres of biogasoline a day.

It
is predicted that the primary 12 months will be capable to provide about 10 million litres per
month. The quantity of biofuel will enhance by 20% per 12 months from the second
12 months./.