news/updates
Japanese firm eyes biofuels facilities in Leyte
June 13, 2007
Tacloban City – A Japanese company plans to set up in Leyte a $100-million bioethanol plant and a $50-million biodiesel plant.
According to the foreign firm, Leyte has potential to provide a steady supply of raw biofuel materials.
Leyte Vice Governor Mimiette Bagaluya said representatives of Cosmo Oil Co. Ltd. have presented to her the company’s plan during a recent visit to her office.
“They (Japanese company officials) told me they’ve been to other parts of the country and that they found Leyte to be the place where their project would be feasible, “ Bagaluya said.
She added that the Japanese firm wanted to link up with the provincial government, citing the company’s need to source manpower and raw materials from surrounding plantation farmers.
Based on the project proposal, the $100-million bioethanol plant would need 34,000 hectares for a cassava plantation, 76,000 hectares for yam plantation and 40,000 hectares for sugar cane plantation.
The $50-million biodiesel project would require 17,000 hectares to be planted with oil palm and 61,000 hectares for copra production.
Cosmo Oil plans to sell its biofuel through refiners and wholesalers in the country. It would also export its products to Japan, Australia, Europe and other countries.
Bagulaya said Cosmo Oil representatives told her that Leyte’s climate is ideal for growing energy crops.
“They also said that if Leyte will run short of plantation areas, they can extend their projects up to Samar, probably to Sta. Rita and Basey areas,” she said.
Bagulaya said the company officials promised to return soon so they could discuss the proposed project with Leyte Gov. Jericho Petilla, who was on official business outside the province.
She said the proposed biofuel plants in Leyte would provide job opportunities to the people and help boost the local economy.
Cosmo Oil Co. LTD. is a big Japanese company that is engaged in oil refining and sales, with head office located in Tokyo.
It was established in 1986 through the merger of Daikyo Oil Co., Maruzen Oil Co. and Cosmo Oil Co.
By Ven Labro
Philippine Daily Inquirer
June 13, 2007
