El Salvador: $4 million Chinese investment for ethanol plant.
Southridge Enterprises sold 20% of the ethanol plant in El Salvador to the Chinese Shenyang Rrzk Co for $4 million.
Monday, September 8, 2008
The construction of the plant began in February 2008 and it should be fully operational at the start of 2010.
There is a formal document complaint about an alleged fraud in the well-advertised ethanol plant construction in El Salvador.
The new Panamanian Biofuels Act provides that from April 2013 a 2% of anhydrous bioethanol be incorporated into motor fuels.
In 2012 there were 65 million gallons of ethanol, 80% of which were exported for the development of biofuels, cosmetics and pharmaceuticals.
Colombian and Spanish investors are analyzing the construction of a plant for $2 billion to produce ethanol for export, as well as supplying the local market.
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