U.S. biofuel company eyes Philippine refineries

A biofuel firm has proposed putting up refineries in Western Visayas in the Philippines, citing the region’s abundant supply of raw materials. U.S.-based Bizminded Concepts Inc. presented to the Regional Development Council in Western Visayas its proposal to operate in the region. According to Chief Operations Officer and Chief Financial Officer Mario San Juan, Bizminded Concepts has earmarked US$55 million to put up biofuel refineries that can produce approximately 20 million gallons per year. He said his company is looking for 110,000 hectares of land on which to plant crops to fuel the refineries and is hoping to tap private landowners with sizeable plantations. The company would engage in inter-cropping to replace old- generation crops and utilize hybrid technology in coconut while adding jatropha, sunflower, Moringa oleifera and algae as future feedstock. (July 3, 2009)