New projects lift Columbian ethanol
Six new ethanol projects in Columbia this year will add 1.37 million litres a day of new production.
The present level is 1.05 million litres a day.
Colombia, the number two ethanol producer in Latin America after Brazil, is seeking new investors to join projects to boost ethanol production capacity and create jobs in the South American country, Agriculture Minister Andres Fernandez Acosta says.
Companies which invest in building biofuel capacity in Colombia would benefit from a low tax rate of 15%, as long as the investment was for at least $16.4 million (Euro 11.8 million)or involved creating 500 or more jobs.
In Colombia, sugarcane is the feedstock used to manufacture fuel ethanol, while palm oil is used to make biodiesel.
Acosta says Colombia has the potential to grow sugarcane for biofuel production in an area of 3.9 million hectares, sharply up from 478,000 hectares today.
The present level is 1.05 million litres a day.
Colombia, the number two ethanol producer in Latin America after Brazil, is seeking new investors to join projects to boost ethanol production capacity and create jobs in the South American country, Agriculture Minister Andres Fernandez Acosta says.
Companies which invest in building biofuel capacity in Colombia would benefit from a low tax rate of 15%, as long as the investment was for at least $16.4 million (Euro 11.8 million)or involved creating 500 or more jobs.
In Colombia, sugarcane is the feedstock used to manufacture fuel ethanol, while palm oil is used to make biodiesel.
Acosta says Colombia has the potential to grow sugarcane for biofuel production in an area of 3.9 million hectares, sharply up from 478,000 hectares today.
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