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China’s Gofar To Build Cassava Fuel Ethanol Plant
By Mr Ethanol | September 18, 2007
Reuters UK:
Beihai Gofar Marine Biological Industry Co Ltd, in China’s southern region of Guangxi, plans to build a 100,000 tonne-per-year fuel ethanol plant using cassava as feedstock, the company said on Tuesday.
The Shanghai-listed company also plans to raise about 560 million yuan ($74.5 million) in a share placement to finance the project and boost its cash flow, it said in a statement published in the China Securities Journal.
The plant, to be located in the port city of Beihai, will be close to a 200,000 tonne-per-year ethanol plant under construction by China Agri-Industries Holdings Ltd, the listed arm of the country’s largest trading house, COFCO.
The Gofar project is still pending approval from the country’s top planning body, the National Development and Reform Commission, a company official told Reuters.
“But we are confident it would get approval,” he said, adding that operation of the plant was planned for late next year.
COFCO’s project will start operating early next year.
Topics: Ethanol, Industry, News |
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