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Philippines: South Korean firm plans to invest $300M for ethanol plant
Source : business.inquirer.net
Despite issues that continue to hound the local ethanol industry, a South Korean firm recently expressed to the government its intention to revive plans for an ethanol production facility in Luzon. Marriz B. Agbon, president of the Philippine Agricultural Development and Commercial Corp., told reporters that this Korean firm, which he declined to name, has been looking at investing $300 million to construct an ethanol facility. Agbon said on the sidelines of a recent launching ceremony by Green Future Innovations, that this Korean company was among the original proponents that wanted to put up a plant in the Philippines. But due to the uncertainty on tariff rates imposed on imported ethanol and on the unclear policies regarding the uptake on locally produced ethanol, the Korean firm decided to put the project on hold. The interest was revived recently given the increases in gasoline prices and the renewed interest shown by other investors such as the Filipino-Japanese venture GFI, in the local ethanol industry.
read more ...
7 February 2011 |
Information ::
Bioethanol ::
Asia
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