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UK Firm Eyes Ethanol Plant In Tanzania
By Mr Ethanol | September 19, 2008
guardian.co.uk:
British-based energy firm CAMS Group plans to produce 240 million litres of ethanol a year from sweet sorghum in Tanzania at a cost of up to $600 million, its chief executive said.
CAMS Group, which was set up in the United States in 1972, has worked in sectors including telecoms, transport and oil field services. The project in the east African country is its first foray into biofuel production.
George Joannou, the company’s chairman and chief executive, said it had acquired 45,000 hectares of land in two districts — Handeni and Bagamoyo — north of the commercial capital Dar es Salaam.
“The project is supposed to be up and running in three to three-and-a-half years,” he told Reuters late on Thursday on the sidelines of a regional biofuels conference.
Joannou said the firm would use sweet sorghum stalks to make ethanol using technology bought from China. That would reduce the cost of setting up the project, estimated at up to $600 milliion, he said.
“It’s about $450 million to $600 million,” he said, adding that his company would raise the funds through equity financing and from a leading commercial bank in London. He did not give more details.
Rising global fuel prices and fears over carbon dioxide emissions that spur global warming have led investors to turn to clean energy sources like biofuels. Many are looking at Africa.
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