Roxol allowed to reopen La Carlota bioethanol plant

ROXOL Bioenergy Corp., the bioethanol subsidiary of Roxas Holdings Inc., has been allowed to reopen its bioethanol plant in Negros Occidental following its implementation of measures to mitigate emission of foul odor.

The Office of La Carlota City Mayor Luis Jalandoni III of Negros Occidental lifted the 30-day cease and desist order (CDO) issued on Sept.9 against Roxol, which was operating a bioethanol plant at Barangay Nagasi, La Carlota City.

Roxas Holdings disclosed to the Philippine Stock Exchange on Thursday a memorandum from Mayor Jalandoni who had noted that the lifting of the CDO was based on the results of the city government unit’s inspection and verification of the mitigating measures that were implemented since the plant closure. The CDO was triggered by reports of emission of foul door.

Roxol’s ethanol production for the fiscal year ending September 2015 increased by 26 percent to 40.522 million liters. Alcohol yield increased by 7 percent to 270 liters per ton of molasses.

In the last fiscal year, the group accounted for about 60 percent of the market but with some new players coming in, this market share is seen to drop. However, RHI is keen on expanding this business.

Roxas Holdings, which is partly owned by the First Pacific group, is currently valued by the stock market at around P4.65 billion.