Cosmo Oil to invest in PNG biofuel project
Japan-based Cosmo Oil is set to invest US$800 million (€587 million) in the development of a starchy crop as raw material for biofuel production in Papua New Guinea (PNG).
Pre-feasibility studies for a period of six months will begin soon. The studies will obtain data on appropriate crops, raw material and appropriate soil type.
Following this, a three and half year long full-scale analysis on the chosen raw materials will be carried out.
The crops for analysis will include corn, cassava and peanut.
Pre-feasibility studies for a period of six months will begin soon. The studies will obtain data on appropriate crops, raw material and appropriate soil type.
Following this, a three and half year long full-scale analysis on the chosen raw materials will be carried out.
The crops for analysis will include corn, cassava and peanut.
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