Korean firm to invest $300M for Central Luzon ethanol plant

A Korean company is set to invest $300 million to construct an ethanol plant capable of producing 150 million liters of ethanol in Clark, Pampanga, an official of the Philippine Agricultural Development and Commercial Corp. (PADCC).

PADCC president Marriz Agbon said the Korean firm has forged a partnership agreement with local firm Central Luzon Bioenergy Corp. to develop 30,000 hectares of?farmland for sugar in Tarlac, Pampanga and Nueva Ecija. Sugar will be the primary feedstock of the ethanol plant.

“It is the first time [for a Korean company] to go into bioethanol production in the Philippines. [The plant] is the biggest ethanol plant in the Philippines so far,” Agbon told reporters in an interview.

A groundbreaking ceremony is scheduled on Feb. 12 while the construction period is expected to take two years. Commissioning of the plant is in 2012.

The ethanol plant will have a cogeneration component that will enable it to produce 40 megawatts of power. The PADCC chief said part of the power that will be generated by the plant could be sold to Clark or to the grid.

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