Eleven companies now in line for local bio-fuel investment

Ten of the proposals are from eight different countries and one is from a local potential investor.

The process of evaluation and implementing a comprehensive strategic plan for local bio-energy investment and production, would cost an estimated US$1.2 million which would be raised with grant funding from the IDB and counterpart funding from the government.

In an interview on Thurs-day, Minister of Agriculture Robert Persaud told the Stabroek News that the Guyana Office for Investment (Go-Invest) has received the proposals, which are in varying stages of development since additional information were still being sought from the potential investors.

The number of investors has grown from early August, when President Bharrat Jagdeo had announced that six companies had expressed interest, with one of them proposing an investment of US$600 million.

The proposals submitted include those from a locally-registered company, Sawa-rima Agro and Bio Energy Enterprise; and the Canada-registered Agri Solutions Technologies which is already operating a bio-diesel facility using palm oil at Wauna in the Mabaruma District, Region One (Barima/Waini).

The foreign companies include Global Energy Ven-tures - a consortium involving capital from the US, Brazil and Jamaica. The consortium has an interest in sugarcane cultivation for ethanol production. Bio-Capital out of Brazil and US companies Twin Lakes and Grynberg are also interested in cane cultivation for ethanol production.

Zoom of India is interested in cane cultivation for ethanol and bio-diesel production, while Integrated Bio-Energy Resources of the USA and Iberdrola of Spain are interested in oil palm cultivation for bio-diesel. AMCAR/ Jatropha Inc of France is also interested in bio-diesel.

Anand Marketing Network of Canada proposes sweet potato cultivation for ethanol production.

Persaud said the government and the IDB have put together a project proposal, which covers the development of methodology for identification of viable investment opportunities, knowledge transfer and preliminary identification of potential bio-energy projects; and design of a financial instrument to develop viable investment opportunities and implement a strategy to promote Guyana's potential for bio-energy production.

Sign up for our
regular news updates

Latest Bioenergy Industry News

•   Egypt Wants Brazilian know-how in Biofuels
•   Biofuel Subsidies in China
•   CME: Crude Oil Prices Impact Livestock Production
•   €50m Set for Wind Farm Investment
•   Planning Notice for Aegir Offshore Wind Farm Submitted
•   Agreement on Viability of Mammoth Ethanol Facility
•   EPA Applauded for Biodiesel Rule in 2009
•   Type of Physic Nut to Undergo R&D
•   Sweet Potatoes Entering Biofuels Arena
•   Investments Funded in Ethanol-making Microbe