The government has approved an ethanol producer's application to establish a 25-hectare economic zone in Magallanes, Cavite.
Cavite Biofuels Producers, Inc. has hurdled the requirements and will only need a presidential proclamation for the property to be recognized as an agro-industrial economic zone where business operations will enjoy tax perks, the Philippine Economic Zone Authority in a statement on Tuesday.
The site will be home to a planned distillery capable of churning out 125,000 liters of ethanol per day.
The decision comes as the project site was deemed "suitable for the development of a bioethanol plant in view of availability of product transport facilities...sugarcane sources and land for expansion, and favorable agro-climatic conditions for sugarcane produce and distillery operations".
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