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Philippine Tourism News: Bioethanol Project in Eastern Visayas Will Attract Investors

Bioethanol Project in Eastern Visayas Will Attract Investors

Friday, September 21, 2007

Bioethanol production program has been pushed in Eastern Visayas because to boost up economic development in the countryside. It is also important for the Philippines to push through with the bioethanol production for the needed volume of fuel in the near future. The public must be aware of the benefits of producing the special fuel.

Presidential Assistant for Eastern Visayas Victor Domingo said that the bioethanol projects will help generate revenue in the region. Bioethanol project will attract a lot of investors that are interested in the production of bioethanol. The location in Eastern Visayas that the production site of bioethanol is Ormoc City. It has been reported that if the project will push through, production of bioethanol in Ormoc City will have a full capacity of 9 million liters annually.

In the Department of Energy (DoE) report, there are at least 10 companies who expressed their interest in the bioethanol project. These companies are interested in putting up ethanol plants in different parts of the Philippines. The estimated ethanol fuel that will be produce in the industry is P19-billion annually. This report was disclosed by Victor Domingo.



Victor Domingo also said that the DoE projected a P12 billion in investments to generate the annual production capacity of 240 million liters to meet the projected demand of 223 million liters in 2009.

This is why the Philippine government is pushing more projects to ensure the success of the bioethanol program in the countryside. The Philippine government will also give incentives to investors who are into bioethanol projects.

Victor Domingo said the bioethanol program is given priority and is being being pressed for implementation by the government pursuant to Republic Act 9367 of the Biofuels Act of 2006 which pushes for the domestic bioethanol supply requirement for the mandatory five percent bioethanol blend that would start in 2009.

Bioethanol fuel is a high octane, water free alcohol that is produce in the fermentation of sugar, starch or other crops. Bioethanol is an alternative to gasoline. Bioethanol provides fuel for automobiles and other forms of transportation.




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