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E-Cane To Invest $150m
By Mr Ethanol | May 28, 2007
Manila Standard Today:
US firm E-Cane Fuel Corp. will invest $150 million to put up a fully integrated ethanol processing facility in Central Luzon.
E-Cane Fuel chairman and chief executive Jean-Pierre Monclin told reporters the ethanol facility will utilize production from 10 hectares to 20 hectares of sugar cane plantations in Tarlac, Pampanga and Nueva Ecija.
Sugarcane farmers in the areas have leased their lands to the company for ethanol feedstock production.
The lease agreement covers 25 years, with assurance of annual increases in land rent.
“The plant will be vertically integrated. This means we will be producing 100 percent new feedstock and process them,” Monclin said.
He said the investment would be the company’s biggest in the biofuel industry and the firm’s first investment in Asia. E-Cane has bioethanol-related operations in Latin America and Columbia.
The plant will utilize Indian-based technology PARJ. Construction started six months ago and is expected to go on full commercial operation by 2009.
The ethanol plant, which will have a capacity of 150 million liters, will process sugarcane as a primary feedstock.
He said the company’s technology complies with the Kyoto Protocol, an international agreement in the reduction of harmful greenhouse gases.
Monclin said the company would sell ethanol primarily to the domestic market a portion to Japan and Korea.
Topics: Ethanol, Industry, Investing, News |
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