The Philippines to secure new plant
Alsons Consolidated Resources’ bioethanol arm is set to build the P2.5-billion (€33.9 million) plant with expected operations in 2012.
The company is pursuing an environmental compliance certificate by the end of November and will aim to begin construction within six months.
The company has yet to determine the financing for the facility, but is considering to tap a credit line from the Development Bank of the Philippines and Land Bank of the Philippines provided by the government for such projects.
The bioethanol plant will use cassava as feedstock for the facility. All other existing plants in the country use sugarcane as feedstock for their plants. A 10,000 hectare cassava plantation will be needed for the plant.
The Ethanol Producers Association of the Philippines has recently filed a petition to the Tariff Commission to increase import duties to 20% from 1% to galvanise investments in the industry.
The country’s Biofuels Law mandated that all petrol sold in the country have to be blended with 5% ethanol. By 2011, the minimum blend requirement will be increased to 10%.