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Article: Foreign companies to invest in RP biofuels
- Article from:
- The Manila Times
- Article date:
- December 10, 2007
- Author:
CopyrightCopyright Content Parnership Pty Ltd Dec 10, 2007. Provided by ProQuest LLC. (Hide copyright information)
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A NUMBER of foreign companies have expressed interest in investing in the Philippines' fledgling biofuels industry.
Senator Miguel Zubiri told reporters that Spanish and Japanese firms are planning to set up multimillion-dollar plantations and processing plants for biofuels in the countryside.
The Spanish companies include Abengoa Bioenergy Corp., Green Fuel Inc. and Bionor Laboratories AS-all of which signed memoranda of agreements with the Philippine government during President Arroyo's recent state visit to Spain.
He said that Abengoa Bioenergy, a Spanish ethanol company based in Madrid, wants to pour in $175 million for a distillery with an annual production of 150 million liters of ...