Cavite Biofuels plans construction of new ethanol plant

Construction is due to start on a new ethanol plant in Cavite province in the Philippines this year. The plant will produce 45 million liters (11.8 million gallons) per year of fuel-grade ethanol. Sugarcane is to be the main feedstock, which the company will obtain in Cavite. In addition, the company is looking at red sorghum as an additional feedstock. The project investment is US$75 million. Sixty percent of the funding for the project is from the Development Bank of the Philippines (DBP), and 40% from private equity investors. Plant construction is estimated to take 22 months. (February 25, 2011)