Bio-diesel facility to be constructed in Davao City

A biodiesel plant in Coronon, Davao, Philippines, will begin operating in March. Shareholders of Enerfuse Holdings Inc., namely, Flying V, Eastern Petroleum Corp., Seaoil Philippines and Unioil Philippines, have invested Php50 million (US$1.03 million) in a coconut methyl ester (CME) plant, which will supply half of the country’s annual biodiesel requirements. Enerfuse Holdings owns 50% of Bioenergy8 Corporation, the corporate vehicle of the Davao biodiesel plant, while the remaining 50% is held by coconut oil producers Golden Asian Oil, Mt. Holly Coco Industrial Co. and other local investors. The group of islands in Mindanao produces more than half of the 1.7 billion liters of the coconut oil produced in the Philippines. (January 18, 2007)