DGAP-News: Curcas Oil N.V. announces signing of MOU in Vietnam
(firmenpresse) - DGAP-News: Curcas Oil N.V. / Key word(s): Letter of Intent
Curcas Oil N.V. announces signing of MOU in Vietnam
17.12.2010 / 15:00
---------------------------------------------------------------------
Curcas Oil N.V. announces signing of MOU in Vietnam
Amsterdam, The Netherlands, December 17th, 2010
Curcas Oil N.V. is pleased to announce the signing of a memorandum of
understanding for the formation of a joint venture company for the large
scale commercialization of Jatropha plantations in the area of Son La
Province in Vietnam.
The initial joint venture partners are Yalta Green Energy PTE Ltd and the
local Nong Trang Dong A JSC who aim to cultivate at least 20,000 to 50,000
hectares of Jatropha. The plantations will be established by way of
contract farming and/or direct lease by the company from the State.
With the signing of the MOU Curcas Oil N.V. gets the option to become a
leading partner in the joint venture after the initial development phase.
The board of Curcas is currently in negotiation about this with Yalta.
Curcas Oil will provide the joint venture with its know-how and technology
related to the treatment and processing of feedstock and oil extraction and
would in the next phase take the lead on marketing of the production
results.
The name of the newly formed joint venture company will be Jatropha Energy
Vietnam LLC with its head office in the Son La Province. In the first step
the total invested capital will be USD 1,000,000.
Last week Yalta was informed that the license for the joint venture by the
Son La People's Committee will be released shortly. Following the necessary
approvals, the company plans to plant 6.000 hectares of Jatropha in 2011,
so that the first harvest should take place by then end of the year.
Further, Jatropha Energy plans to set up a central collection point for
seeds within the province of Son La, to make use of the Jatropha trees
already existing in the region and speed up production.
The joint venture partners envisage to have a factory location at Hai
Phong, which has a sea harbor. Transport from the plantations to Hai Phong
can be done by ship via the river passing the Son La province and ending in
Hai Phong.
Curcas Oil and the initial joint venture partners have agreed on important
criteria for the selection of land for the cultivation of Jatropha. It is
important that the land has not been cleared or made available through
uprooting or clearing of primary forest and it is specifically requested
that the land use purpose has not been changed from the cultivation of food
to the cultivation of Jatropha. Further, it has been made clear that fire
clearings will be strictly prohibited and that at least 10-15% of the land
will remain in its natural condition to avoid monocultures.
About Curcas Oil N.V.
Curcas Oil N.V. is a producer of Jatropha Crude Oil. With its subsidiaries
Alternative Energy Manufacturing Ltd. (Thailand), Curcas Oil Philippines
Inc. (Philippines) and PT Pengembangan Jarak (Indonesia), Curcas Oil N.V.
cultivates Jatropha Curcas plants for the production of Jatropha Crude Oil
in a sustainable and responsible manner.
Curcas Oil N.V.
Haaksbergweg 71
1101 BR Amsterdam
The Netherlands
Tel. +31 20 312 1212
info(at)curcas-oil.com
www.curcas-oil.com
DISCLAIMER
This press release constitutes neither an offer to sell nor an invitation
to buy securities. This press
release and the information it contains is not intended fordissemination
in the United States of America (USA) or within the USA, and must not be
distributed or communicated to US persons (including legal persons) or to
publications with a general distribution in the USA. This press release is
not an offer or an invitation to buy securities in the USA. The Curcas Oil
N.V. securities will not be
offered for sale in the USA.
End of Corporate News
17.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
106874 17.12.2010
Datum: 17.12.2010 - 15:00 Uhr
Sprache: Deutsch
News-ID 32891
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 375 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Curcas Oil N.V. announces signing of MOU in Vietnam"
steht unter der journalistisch-redaktionellen Verantwortung von
Curcas Oil N.V. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
