Two South Korean firms to invest $167 million in Philippine jatropha biodiesel and sugarcane ethanol

The Philippine Agricultural Development and Commercial Corporation, an arm of the Department of Agriculture,m announced two investment by South Korean firms in Philippine biofuels totaling $167 million. Two unnamed companies will invest in a jatropha biodiesel project using 5000 hectares of land in General Santos City, while the other will invest in a 15,000 hectare sugarcane ethanol project in Tarlac. The 48 Mgy Tarlac project would, in reaching full production capacity, become the largest ethanol refiner in the country.

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