Philippines seeks biofuels investment from Brazil

The Philippine government is eyeing to secure a P20-billion (€298 million) investment agreement with Brazil for the possible construction of five bioethanol plants.

Proposals regarding the construction of five plants in the Philippines have been submitted to the Brazilian federation of sugarcane and ethanol manufacturers, Unica, as the Asian country looks to forge joint-venture agreements with Brazilian companies.

The Philippine government noted that the minimum investment for an ethanol plant would be around P4 billion, an amount that would include the expenses for a 5-hectare plantation of feedstock and a plant that has a 30 million litre annual capacity.