BioJet and Lao Asia Pacific form Strategic Project Alliance

BioJet has announced the formation of a strategic business and project relationship with Lao Asia Pacific Agriculture Promotion Import-Export Sole Company (LAP).

The partnership will involve the production of biofuels for land and air transportation, as well as other bioenergy products. The project will also include 100,000 hectares of feedstock production as well as refining/conversion facilities appropriate to the scale of feedstock supply.

The Project comes in the wake of Laos's Mandate for the Renewable Energy Development Strategy, and has further support from the Ministry of Energy and Mines. BioJet will work closely with LAP to ensure optimal production conditions for sustainable biofuels and bioenergy.

The joint venture, led by LAP, will enable Biojet to become a major producer and exporter of biofuels and co-products to members of the Association of Southeast Asian Nations, wherein they have free trade, and other international buyers.

'We expect the Project ... to generate revenues in the $300 million (Є226.5 million) range annually and to help form the foundation of a sustainable infrastructure for Bioenergy in Laos. We also expect the Project to have significant impact on economic development, job creation, and social programs,' Chansanga Valakone, Chairman and CEO of LAP.

Last year BioJet received a funding facility commitment of $1.2 billion (Є0.91 million) in order to capitalize its supply chain projects program. This includes feedstock and refining projects as well as investments and related strategic acquisitions.

'We are pleased for the opportunity to work with LAP. This deal was generated when LAP and our Buenos Aires office came together once again demonstrating the reach of the international BioJet model,' says Mitch Hawkins, Chairman of BioJet.