Chinese financing falls through for Philippine cassava ethanol project

In the Philippines, Eastern Renewables and Fuels, said that it is seeking $30 million from local banks to finance its proposed ethanol plant in Isabela after Chinese financing collapsed.

Originally, the company signed a MOU with Guanxi Estates of China for the 8 Mgy cassava ethanol plant, with a completion date of 2012. The company said that its models showed a 50-70 percent yield increase from cassava compared to sugarcane, which would be supported by a 10,000 hectare platation.

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