GFII to build largest ethanol plant in Philippines

Japan’s Itochu Corp. and JGC Corp. have agreed to participate in large-scale bioethanol production and power supply businesses in the Philippines, together with local partners. The newly formed joint venture, Green Future Innovations Inc. (GFII), will become a new operating company for the business. GFII will produce and sell ethanol produced from sugarcane feedstock and also sell electricity generated by a power plant fueled by sugarcane residuals (bagasse). Production is scheduled to start on February 2012. Plant capacity is 54,000 kiloliters per year. The group committed to invest more than US$100 million in the project. (April 11, 2010)