Daewoo Logistics Biofuel Project for Madagascar

The South Korean company will be taking a 99 year lease on .2 million acres of land, where it will develop the biofuel farms roads and the infrastructure.

The amount of land acquired by Daewoo is about half of Madagascar's farm land according to a report in The Telegraph.

The Telegraph says that Daewoo Logistics may not have to pay anything for the land as the regional governments in Madagascar have negotiated a deal to provide jobs, roads an infrastructure in the region and training.

DAewoo is reported to be looking to form a consortium with a South Korean feed company and Chinese companies to run the project, which will be looking to grow 5 million tonnes of maize and 500,000 tonnes of palm oil for biofuels.

TheBioenergySite News Desk

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