THE PHILIPPINE STAR PILIPINO STAR NGAYON THE FREEMAN PANG- MASA BANAT Tue | 0 9 /24/20 13 0 8 :58 pm | Fo rex: $ 1:43.26 5 Fo llo w Us: Gefällt m ir Home Headlines Opinion Nation World Business Sports Entertainment Lifestyle Other Sections NETWORKS BUSINESS AS USUAL BANKING MOTORING SCIENCE AND TECHNOLOGY REAL ESTATE AGRICULTURE TELECOMS Canlaon Alco to invest P5.2B on bioethanol plant By Ma. Elisa P. Oso rio | Updated March 18 , 20 11 - 12:0 0 am 0 1 googleplus 0 0 Like 0 Death to ll fro m MANILA, Philippines - The Canlaon Alco Green Industrial Corp. will invest P5.192 billion on a bioethanol plant in so uthwest mo nso o n Bago, Negros Occidental. rises to 31 September 24, 20 13 - The multi-billion investment will receive six years worth of income tax holiday (ITH), Board of Investments (BOI) 6 :43pm executive director Lucita P. Reyes said. Makati allo ts budg et fo r K- 12 pro g ram In an interview, Reyes said that the Bioethanol project is one of their banner investments for the first two months September 24, 20 13 - of the year. Reyes said this has helped propel their 185 percent investment growth for January to February when 6 :32pm compared to the same period a year ago. BOI investments stood at P28.237 billion. Sto cks clo se lo wer as markets await Fed Canlaon has applied for incentives from the BOI and it has qualified for ITH under the Investment Priorities Plan mo ve September 24, 20 13 - (IPP) of the government. 6 :30 pm 1 hurt in bus The plant, which will be operational by December 2012, is expected to produce 52.2 million liters of bioethanol explo sio n in annually. Mag uindanao to wn September 24, 20 13 - Gefällt m ir However, Reyes said that despite this investment, the Philippines still lacks bioethanol. By 2012, the local demand 6 :13pm for bioethanol will be 849 million liters. Reyes said that with the seven bioethanol plants currently operating, the Kato fo llo wers attack production by 2012 will only be 193 million liters. Even with the 52.2 million of Canalaon, there is still a deficit. Del Mo nte plant in NCo tabato to wn “We still need to encourage more investments in September 24, 20 13 - Fo llo w biotheanol,” Reyes said. 6 :0 1pm Go v't asks SC to lift Reyes said that Canlaon will be supplying the TRO o n 20 13 PDAF bioethanol to local petrol companies. September 24, 20 13 - 5:54pm Fo llo w The project has been certified by the Sugar Regulatory UP dethro nes Ateneo Authority (SRA). The certification is needed to ensure in co ntro versy- marred UAAP that the identified plantation is not used for food. swimming meet Canlaon has a growing agreement with the farmers of September 24, 20 13 - Bago. This covers 2,300 hectares of land which will be 5:51pm able to produce 161,000 metric tons of raw sugar cane PHL eyes to repeat per year. 4th- place finish in FIBA- Asia U16 tiff Aside from the bioethanol, the production will have a byproduct of purified carbon dioxide. This will be sold to September 24, 20 13 - beverage companies, Reyes said. 5:32pm Ai Ai apo lo g izes to The project, excluding the farmers, will employ 160 workers. 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