By Othel V. Campos
Chinese beverage company Whahaha Group Co. Ltd. plans to team up with a local company in putting up a P4-billion bio-ethanol plant in Misamis Occidental province.
“The Chinese company is looking importing an initial shipment of about 20 metric tons,” Marriz Agbon, president of Philippine Agribusiness Development and Commercial Corp., told reporters over the weekend.
Whahaha is also interested in buying mango puree from listed AgriNurture Inc., an agriculture company engaged in the production of cash and export crops.
Agbon said Whahaha wanted to build the bio-ethanol plant in Misamis Occidental in partnership with a local family, with sugarcane as the feedstock of choice.
Agbon said the Agriculture Department was considering to join a trade and investment mission to China in the first week of April.
He said the mission aimed to create an opportunity for local companies to sign an agreement with Whahaha.
“Once the agreements are signed, the projects would build momentum since Whahaha has the relevant technologies already,” Agbon said.
The follow-up mission is set to take place in Hangzhou, where Whahaha is based.
The National Biofuels Board said the government wanted to see the operation of at least seven bio-ethanol plants with an annual output of 30 million liters each.
Two local bio-ethanol companies are now operating at a combined yearly production of 50 million liters.
Leyte Agricultural Corp. produces 9 million liters of bio-ethanol while San Carlos Bioenergy Inc. has expanded its yearly output from 30 million liters to 39 million liters.
Copyright Manila Standard Today 2005-2010
