RP, Korean companies ink $600-M biofuel deals
Environment Plasma is expected to invest up to $425 million in the construction of a bioethanol plant with a boilerplate capacity of 150 million liters a year. Under the agreement, Environment Plasma will develop lands into sugar-cane plantations in Pampanga, Tarlac, Pangasinan, Bataan and Zambales.
MANILA and two bio-energy companies from Korea have signed agreements that call for the foreigner to invest $600 million for the construction of biofuel plants and the development of idle lands in the Philippines.
The Department of Agriculture (DA) signed a memorandum of understanding (MOU) with Environment Plasma Co. Ltd. and a memorandum of agreement with Eco Solutions Co. Ltd.
Environment Plasma is expected to invest up to $425 million in the construction of a bioethanol plant with a boilerplate capacity of 150 million liters a year. Under the agreement, Environment Plasma will develop lands into sugar-cane plantations in Pampanga, Tarlac, Pangasinan, Bataan and Zambales.
On the other hand, Eco Solutions would invest as much as $175 million for a biofuel plant using jatropha as feedstock. The plant would be designed to produce 60 million liters per year. The company would develop lands in General Santos City and Sarangi for jatropha.
The DA said that under the agreement, Environment Plasma would help identify sugar-cane varieties for cultivation trials and share that knowledge it would derive from such activities. The Korean firm also agreed to share the design engineering required to develop sugar-cane plantations and supply the machines for the factory.
To spur and promote economic activities in the business of biofuels farming, Eco Solutions would build oil mills and establish commercial jatropha plantations in the Philippines.
The Philippine Agricultural Development and Commercial Corp., a corporate arm of the DA, is tasked to give the Koreans the necessary information to develop and complete biofuels projects.
Meanwhile, Korea and the Philippines have also forged a five-year scientific cooperation pact to promote and develop agricultural scientific and technical cooperation through mutual assistance in research and development (R&D), technology transfer, education and personnel training.
The five-year MOU was signed in Seoul by Agriculture Secretary Arthur Yap and Director Jae-Soo Kim of the Rural Development Administration.
The MOU urges both parties to “propose joint projects aimed at specific areas of cooperation” that can be undertaken in tandem with other organizations and international funding agencies.
The MOU also calls on both parties to carry out R&D projects in agriculture and livestock.
DA officials said a prime benefit of the MOU is the transfer of postharvest technology for Philippine mangoes such as slowing the fruit’s decomposing rate. The delay and suppression of microorganism activity and the production of ethylene to extend the freshness of tropical fruits by 20 percent to 30 percent would also benefit the Philippines’ fruit industry. Written by Jennifer A. Ng - Business Mirror
The Department of Agriculture (DA) signed a memorandum of understanding (MOU) with Environment Plasma Co. Ltd. and a memorandum of agreement with Eco Solutions Co. Ltd.
Environment Plasma is expected to invest up to $425 million in the construction of a bioethanol plant with a boilerplate capacity of 150 million liters a year. Under the agreement, Environment Plasma will develop lands into sugar-cane plantations in Pampanga, Tarlac, Pangasinan, Bataan and Zambales.
On the other hand, Eco Solutions would invest as much as $175 million for a biofuel plant using jatropha as feedstock. The plant would be designed to produce 60 million liters per year. The company would develop lands in General Santos City and Sarangi for jatropha.
The DA said that under the agreement, Environment Plasma would help identify sugar-cane varieties for cultivation trials and share that knowledge it would derive from such activities. The Korean firm also agreed to share the design engineering required to develop sugar-cane plantations and supply the machines for the factory.
To spur and promote economic activities in the business of biofuels farming, Eco Solutions would build oil mills and establish commercial jatropha plantations in the Philippines.
The Philippine Agricultural Development and Commercial Corp., a corporate arm of the DA, is tasked to give the Koreans the necessary information to develop and complete biofuels projects.
Meanwhile, Korea and the Philippines have also forged a five-year scientific cooperation pact to promote and develop agricultural scientific and technical cooperation through mutual assistance in research and development (R&D), technology transfer, education and personnel training.
The five-year MOU was signed in Seoul by Agriculture Secretary Arthur Yap and Director Jae-Soo Kim of the Rural Development Administration.
The MOU urges both parties to “propose joint projects aimed at specific areas of cooperation” that can be undertaken in tandem with other organizations and international funding agencies.
The MOU also calls on both parties to carry out R&D projects in agriculture and livestock.
DA officials said a prime benefit of the MOU is the transfer of postharvest technology for Philippine mangoes such as slowing the fruit’s decomposing rate. The delay and suppression of microorganism activity and the production of ethylene to extend the freshness of tropical fruits by 20 percent to 30 percent would also benefit the Philippines’ fruit industry. Written by Jennifer A. Ng - Business Mirror
Labels: biofuels, investments, korean, zambales
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