Philippine Star. Philippine company Bio-Energy NL Inc. plans to invest up to $300 million (roughly P15 billion) for an integrated coconut plantation and biodiesel plant in Northern Luzon in the Philippines.
The coconut plantation will occupy 500,000 hectares of land and the refinery will have a capacity of approximately 300 million liters (80 million gallons US) per year. Construction of the integrated coconut crushing/refinery plant will take about three years. Fruit bearing for the coconut plantation is expected within four years.
The Japan Bank for International Cooperation (JBIC) reportedly has agreed to fund the feasibility study—to be completed by August 2007—and may fund the project. Output from the biodiesel processing plant will be exported to Japan.
“The capacity of the new plant will serve a little over 10 percent of the five percent biodiesel demand of Japan (2.5 billion liters),” the sources said.
The five percent annual demand for biodiesel for Tokyo metropolitan alone is estimated to reach 300 million to 400 million liters.
Japan will allow up to a 5% biodiesel blend (by mass, as opposed to volume in the US and Europe) beginning in March 2007.