13 February 2014 03:56 [Source: ICIS news]
SINGAPORE (ICIS)--China's Sinopec and Hainan Yedao Group plan to build a joint 100,000 tonne/year cassava-based ethanol plant in Hainan province, an official statement from Hainan Yedao Group said on Thursday.
The plant, to be built at Yangpu economic development zone, will involve an investment of yuan (CNY) 430m ($71.0m), according to the statement.
Hainan Yedao Group holds 70% of the plant’s stake while Sinopec holds the remaining, it added.
The plant was granted approval from the local government on 10 February, and construction work is expected to start as soon as possible, although no actual timeline was disclosed.
($1 = CNY6.06)
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