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Roxas Holdings eyes P5-B debt
Friday, October 10, 2008
Elizabeth Sanchez-Lacson
MANILA, Philippines - Roxas Holdings Inc. plans to take out P5 billion in loans for a bioethanol venture and has received commitments from a number of banks, including Banco de Oro Unibank, Bank of the Philippine Islands and Rizal Commercial Banking Corp., company chairman Pedro Roxas said.
Roxol Bioenergy Corp., the bioethanol unit of Roxas Holdings, said it had engaged an Indian firm to build a P1-billion bioethanol plant in Negros Occidental province.
The Roxas Holdings board earlier approved the offer of Indian firm KBK Chem-Engineering Pvt. Ltd. to construct a 100,000-liter-a-day cane juice or molasses ethanol plant in La Carlota City, Negros Occidental.
KBK Chem-Engineering provides tailor-made turnkey solutions in the field of distilleries, ethanol, biofuels and cogeneration power systems for companies in India, the Philippines, Thailand, Malaysia, Vietnam, Myanmar, Africa, East Europe and Latin America.
The plant will be built next to Central Azucarera de La Carlota Inc. in La Carlota City, a sugar mill owned by CADP Group Corp., a subsidiary of Roxas Holdings.
©Ã‚ 2008 Philippine Daily Inquirer
Source: Philippine Daily Inquirer
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