PNOC-Alternative Fuels Corp recently signed an MOU with Korea Technology Industry(KTI) for the development of a Jatropha plantation and biodiesel refinery which is estimated to cost about $210 M. PNOC-AFC will be tasked to scout for the 75,000 ha of land to be used for the plantation. Acquisition and development of the 75,000 ha is estimated to cost $150 M while the biodiesel refinery is expected to cost $60 M.
PNOC-AFC will have a 20% share in the venture with the added benefit of no liabilities and financial obligations to the project.
According to the Article:
Korea Technology Industry(KTI)… is a publicly-listed company which has made lucrative investments in several industries primarily energy plants and bioenergy particularly on oil and carbon recovery from rubber chips and oil sands extraction.
Article here
Category: Misc, Biodiesel, Jatropha
