Roxas group taps Indian firm to build ethanol plant
Listed Roxas Holdings Inc. told the stock exchange Monday that its bioethanol arm, Roxol Bioenergy Corp., has tapped an Indian firm to build its P1-billion bioethanol plant in Negros Occidental.
Roxol Bioenergy engaged KBK Chem-Engineering Pvt. Ltd. to design and construct its bioethanol plant, which would be situated next to Central Azucarera de La Carlota Inc., the sugar mill owned by affiliate CADP Group Corp. in La Carlota City.
The bioethanol plant would include facilities and equipment for fermentation and distillation in ethanol production, wastewater treatment, slops concentration, product storage as well as steam boiler and turbo-generator components.
Roxas Holdings chairman Pedro Roxas said the plant, which would have a production capacity of 100,000 liters a day, is slated for completion by the end of 2009 or early 2010.
"We are optimistic and quite excited about this business. Ethanol is an efficient, renewable and environment-friendly fuel. It will be a substantial addition to our stream of revenues," he said.
Last year, Roxas Holdings announced its plan to foray into the energy sector through ethanol production to take advantage of a definite market brought about by the enactment of the Biofuels Act of 2006. The law mandates the use of locally sourced biofuels.
The conglomerate earlier secured a P2-billion loan from the Bank of the Philippine Islands and Rizal Commercial Banking Corp. for the expansion of its sugar business and construction of the ethanol plant.