New bioethanol project announced for the Philippines
Roxol Bioenergy is investing P1.433 billion (23.2 million Euro's) for the production of bioethanol and potable ethanol to be sold to local oil refining companies and manufacturers in the Philippines.
The project, which is 99.99% owned by the publicly-listed Roxas Holdings, led eight project approvals by the Board of Investments (BOI).
Based on its registration with the BOI, the company will invest P1.138 billion for the bioethanol project and P292 million for the potable ethanol project.
Both projects would be located in barangays La Granja and Esperanza in La Carlota City in Negros Occidental.
The manufacturing plant has a production capacity of 30 million litres a year of bioethanol/biofuel and 6 million litres of potable ethanol or the spirit blend.
It will require 365 tonnes a day or 131 million tonnes a year of molasses, the basic raw material for bioethanol production sourced from companies producing raw sugar in Negros.
The company has decided to produce bioethanol at a larger because of the vast market that has been created following the passage of the Biofuels Act of 2006.
Bioethanol would be sold to various local oil companies while the potable ethanol has several industrial applications for manufacturers.
The project, which is 99.99% owned by the publicly-listed Roxas Holdings, led eight project approvals by the Board of Investments (BOI).
Based on its registration with the BOI, the company will invest P1.138 billion for the bioethanol project and P292 million for the potable ethanol project.
Both projects would be located in barangays La Granja and Esperanza in La Carlota City in Negros Occidental.
The manufacturing plant has a production capacity of 30 million litres a year of bioethanol/biofuel and 6 million litres of potable ethanol or the spirit blend.
It will require 365 tonnes a day or 131 million tonnes a year of molasses, the basic raw material for bioethanol production sourced from companies producing raw sugar in Negros.
The company has decided to produce bioethanol at a larger because of the vast market that has been created following the passage of the Biofuels Act of 2006.
Bioethanol would be sold to various local oil companies while the potable ethanol has several industrial applications for manufacturers.
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