Publicly listed Basic Energy Corp announced that they are planning to build between 5-6 bioethanol refineries in the country. They are targeting to be the market leader in the production of bioethanol in the Philippines with the help of partner Metro Pacific Investments Corp.
Under the recently approved Philippine Biofuel law a certain percentage of ethanol must be mixed with gasoline sold at the pump guaranteeing Basic Energy a solid market for their bioethanol.
Basic Energy already fired it’s initial salvo in the emerging biofuels market with the acquisition of Zambo Norte BioEnergy Corporation (ZNBC). The said company has a P2.8 billion bioethanol project in Zamboanga del Norte which consists of a 10,000 ha sugarcane farm and bioethanol distillery which can produce 200,000 litres of bioethanol/day.
[source]
Category: Bioethanol, Clean Energy
