Papua New Guinea: biofuel project

Japan-based Cosmo Oil Co. Ltd is set to invest USD 800 million in the development of a starchy crop as raw material for biofuel production. However, the project could only be started after three-and-half years as pre-feasibility studies would have to be done for six months to gather necessary data on appropriate crop as raw material and appropriate type of soil. Then, a three and half years of full-scale analysis on the chosen raw materials would be carried out. Crops for analysis included corn, cassava and peanut, among others. A total of 761ha of State land in Remote Yambi, Wosera-Gaui district, had been made available for the pilot project. A district office would be built on a 400ha parcel at Yambi. A separate 315ha would host the company’s operating base.
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