Roxol Bioenergy Gets Incentives

Roxol Bioenergy Corporation, a subsidiary of Roxas Holdings Inc.,  was granted by the Board of Investments (BOI) with tax incentives for its P1.138 billion investment in a proposed bioethanol plant in La Carlota City, Negros Occidental.

The component of the project that would make bio-ethanol was given pioneer status since it is certified as one of the non-conventional fuels being aggressively promoted by the government.

The manufacturing plant will require about 365 tons of molasses everyday to produce 100,000 liters daily of bioethanol. The company has decided to produce bioethanol at a larger capacity because of the huge market that has been created following the passage of the Biofuels Act of 2006.

On the other hand, the segment that produces potable ethanol with invetment of P292 million was given non pioneer status since it accounts for only 16.7 percent of the total production volume and falls under the listing of agriculture/agribusiness- agricultural by product of the 2008 investment priorities plan (IPP).

Both plants will be located in La Carlota City, Negros Occidental, adjacent to Central Azucarera de La Carlota, a sugar mill owned by Central Azucarera Don Pedro (CADP) Group Corp., also a subsidiary of Roxas Holdings.

Roxol Bioenegery Corp. has previously tapped KBK Chem-Engineering Private Ltd. of India to design and build the equipment and production facility for the bioethanol plant.

The project is expected to start commercial operation in January 2010 employing 64 people.