In this HowTo HowtoForge will describe the steps to be taken to prepare a server for OpenVZ virtual machines on Debian 3.1 (Sarge) 32Bit Linux.
Here you are
With OpenVZ you can create multiple Virtual Private Servers (VPS) on the same hardware, similar to Xen and the Linux Vserver project. OpenVZ is the open-source branch of Virtuozzo, a commercial virtualization solution used by many providers that offer virtual servers. The OpenVZ kernal patch is licensed under the GPL license, and the user-level tools are under the QPL license.