Malaysia's Innovative Engineering Ventures Holdings Ltd has announced plans to enter the renewable energy business in Vietnam through biomass production.
IEV will build its first plant to produce biogas from rice husk bought in the Mekong Delta, the country's rice bowl, and hopes to begin production next year and export its biomass products, starting with North Asian markets like Taiwan and Korea, for power generation and industrial use.
It is in the process of finalizing its plans and calling for bids to construct the plant in an undecided location in the delta.
The company's CEO, Christopher Do, said: "Biomass is a renewable source of energy that is expected to be more economical than fossil fuel, and its worldwide demand has been increasing significantly.
"The entry into renewable energy will allow IEV to explore the vast opportunities in this sector, not limiting to biomass but also through other renewable resources in the Asia Pacific region."
IEV Ltd offers integrated engineering solutions to the offshore oil and gas industry, predominantly in the Asia Pacific region. It has operations in Malaysia, Indonesia, and Vietnam, as well as sales and representative agreements with agents in Europe, USA, India, and China.
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