$120-M ethanol project in Isabela

SANTIAGO CITY , Philippines   – Despite apprehensions that it could displace thousands of villagers, a $120-million bioethanol plant project was formally launched in Isabela’s central San Mariano town earlier this week.

The project will be funded by a multinational consortium, Green Future Innovations (GFI), composed of Japan’s Itochu Corp. and JGC Corp., Philippine Bioethanol and Energy Investments Corp., and Taiwanese holding company GCO.

Isabela Gov. Faustino Dy III said the project, touted as the biggest sugarcane-based biofuel project in the country, is expected to be operational in 2012.