Kumho to build algae-based ethanol plant

South Korea’s Kumho Petrochemical Co., the South Jeolla provincial government and a local biotechnology firm have agreed to establish an algae bioethanol plant by 2013, officials said. The agreement calls for Kumho to invest a total of 200 billion won (US$161 million) to build the facility with an annual production capacity of 100,000 tons of algae bioethanol at an industrial complex in the southern coastal city of Yeosu. (August 27, 2009)