Philippines: Basic Energy Signs Bioethanol Deal
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Wednesday, 05 August 2009 |
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Listed Basic Energy Corp. has secured a $60,000-contract with two
foreign entities to look into the possibility of putting up a
cassava-based bio-ethanol plant.
In a report to the stock exchange, Basic Energy said it signed a
contract with the Alternative Energy Institute of Thailand Foundation
and Ethanol Thai Ltd., a research and technology institute, "for the
conduct of a techno-economic feasibility study for a cassava-based
bio-ethanol plant."
Late last month, Basic also entered into an agreement with an Indian
company for the development of an integrated feedstock farm and
bioethanol plant in the country. The agreement with the Trio-Chem
Group of Companies covered a commitment by Trio-Chem to invest up to
half a million dollars in the cassava plantation of Basic Ecomarket
Farms, Inc., a subsidiary of Basic Energy, in Zamboanga.
Basic Energy is involved in oil exploration projects and development
activities through Southwest Resources, Inc., a majority-owned
subsidiary. The company’s other wholly owned subsidiaries are Basic
Diversified Holdings, Inc., iBasic Inc., and Basic Biofuels Corp.
Basic Energy shares closed Friday at P0.16 per share, slightly higher than the previous day’s close of P0.15 apiece.
Alternative Fuels 010809
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