Philippines-based bioenergy company Secura International Corporation (SIC) has signed a joint venture agreement with two cooperatives for the future production of biodiesel.
SIC will be working with the Higaonon Indi Tribes Cooperative and the Tumanod Indi Napier Marketing Cooperative to create biodiesel from napier grass and other feedstocks.
Each company has to gather landowners with a minimum of 2,000 hectares to be able to produce enough materials for SIC to build a processing plant that converts biomass into biodiesel.
SIC president Danilo Manayaga says foreign investors will put up $35 million (€28.3 million) to put up a plant in each 2,000-hectare area. SIC will allegedly pay landowners PP3,000 (€57) a month to grow feedstocks.
SIC will be exploring land possibilities in Mindanao provinces including Agusan del Sur, Compostela Valley, the Davao provinces, South and North Cotabato, Maguindanao, Sarangani, and Sultan Kudarat.
Source: Biofuels international