Basic Energy to concentrate on cassava
Listed Philippine bioethanol producer Basic Energy Corp. will focus on its cassava plantation in the next two years and raise up to US$30 million from foreign and local investors to partly finance its operations next year. Basic Energy would focus first on its cassava plantation in the Zamboanga Peninsula in the next two years to generate cash and income for the firm. Earlier this year, Basic Energy signed deals with Canadian firm Nexum Energy Corp. and Germany’s oil and gas infrastructure firm MAN Ferrostaal Industrieanlagen GmbH to develop alternative fuels and renewable energy projects. (November 24, 2008)