PNOC unit eyes global market

PNOC-Alternative Fuels Corp. (PAFC), the biofuels development arm of state-owned Philippine National Oil Co. (PNOC) has tied up with Japanese trading and manufacturing firm Toyota Tsusho, in preparation for plans to expand into the global market, said PAFC President and Chief Executive Officer Romeo Tolentino. PAFC’s partnership with Toyota Tsusho promises a brighter potential for the commercialization and marketing of biofuels not only in the country but even in the ASEAN region,” he said. PAFC is also planning to construct a 5,000-liter jatropha processing plant in Fort Magsaysay, Nueva Ecija. PAFC General Manager Clovis Tupas said the cost of the project will be not more than Php10 million (US$216,112). “Target operation is next year when feedstock becomes available,” Tupas said. (July 11, 2010)