MANILA, Philippines—The Department of Energy expects P15 billion in fresh investments in the local ethanol industry following the issuance of guidelines setting reference prices and an assurance that all local production will be purchased by the oil companies.
On the sidelines of the First Philippine International BioEnergy Conference, Energy Undersecretary Jose M. Layug said the amount was expected to come in for the construction of nine bioethanol plants, each having the capacity to produce at least 30 million liters annually.
These nine ethanol plants, which are expected to be put up by companies that have expressed interest in such a venture, such as San Miguel Corp., will help address the supply shortfall of about 320 million liters.