GREEN Future Innovations Inc. (GFII) will soon start construction of its 54-million-liter ethanol-processing plant in San Mariano, Isabela.
GFII is composed of Itochu and JGC Corp., in partnership with local investors. The group will invest more than $100 million for the ethanol plant.
JGC is a global engineering company while Itochu is engaged in trading, and has investments in insurance agencies, finance, construction, real-estate trading and warehousing, among others.
Erwin Co., official of Itochu Corp., said the group had already secured an approval from the Philippine Economic Zone Authority (Peza).
“Our economic-zone application was already approved by the Peza board. We’re completing the documentation requirements now, and then we’ll wait for the presidential proclamation. After that, we’ll start the groundbreaking,” Co said.
If the company can start construction this year, it expects to complete such later next year.
The Peza gave the green light to GFII’s application to convert its 24-hectare ethanol facility into an ecozone.
“We’re applying for just the plant site. The plantation is not included,” Co said.
Based on its plan, GFII intends to produce ethanol from a total of 11,000 hectares of sugar cane. Once completed, the proposed ethanol facility will contribute power generation in Luzon.
The ethanol facility will make available 19 megawatts (MW) of renewable energy, of which 13 MW can be offered to the Luzon grid to help ease its projected power supply problem.
source: businessmirrior
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