Southridge in El Salvador: A fraud that nobody wants to hear about

There is a formal document complaint about an alleged fraud in the well-advertised ethanol plant construction in El Salvador.

Tuesday, September 16, 2008

In February, media specializing in alternative fuels and finance published the news that Southridge Enterprises, a Dallas, Texas based company, was going to build an ethanol plant in El Salvador.

The strange thing - very strangely - with this case is that in El Salvador nobody knows about this project, not even the vice-minister of agriculture Jose Emilio Saudi, who is the official government delegate for the development of the ethanol industry.

No one is saying anything, not even the US Embassy, nor the media, except for the director of Colatino who called me to ask about the case; however I have not seen anything published.

The project continues to be a mystery. Southridge exists. There is no doubt about that, however they are not answering the phone. ¿So then, what is the mystery?

More on this topic

El Salvador: $4 million Chinese investment for ethanol plant.

September 2008

Southridge Enterprises sold 20% of the ethanol plant in El Salvador to the Chinese Shenyang Rrzk Co for $4 million.

The construction of the plant began in February 2008 and it should be fully operational at the start of 2010.

The total investment in the plant is worth $20 million, and total production will be 20 million gallons per year.

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