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Thai Oil Delays Cassava Ethanol Project
30 June 2008
Bangkok Post. Thai Oil Plc, Thailand’s largest oil-refining company, plans to delay its cassava-based ethanol investment plan because of rising cassava prices.
The company had planned to invest 5.1 billion baht (US$152 million) in an ethanol plant with production capacity of 500,000 liters (132 thousand gallons US) per day, with operations due to start in the middle of 2009.
“Now the prices of cassava chips have risen to 12-13 baht a kilogramme while there is sufficient production of molasses, which is the other ethanol raw material. We need to study the return on investment once again to see whether it is viable,” [a company executive] said.
However, its other ethanol ventures will proceed according to plan. The Mae Sot project, a joint venture with Padaeng Industry Plc and Petro Green Co, would have a production capacity of 100,000 liters a day when it opens late next year.
June 30, 2008 in Brief | Permalink | Comments (0) | TrackBack (0)
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