CRC gets two (2) Letters of Intent (LOI) leading to a 25 years Lease Agreement for 50,000 hectares for feedstock plantation in the Philippines.
(firmenpresse) - CRC gets two (2) Letters of Intent (LOI) leading to a 25 years Lease Agreement for 50,000 hectares for feedstock plantation in the Philippines.
News Release October 13, 2011 Richmond, BC Canada
CRC negotiated a total of 50,000 hectares to lease for 25 years and extendible to establish coconut-feedstock plantation and sustain the continuous supply of crude coconut oil for the company’s community based biodiesel production. Initially, CRC will procure its feedstock requirement from existing coconut oil mills.
The 10,000 hectares is situated in Region 2, Northern Luzon, along the Magat water shed area; the 40,000 hectares is in Mindanao with the Philippine Mountain Tribes Development Association, Inc.
The total valuation by a German bank for the 50,000 hectares once it is fully planted and commercially productive is 400 Million Euro.
CRC is raising the funds for the 10,000 hectares and expects to start the project implementation Q1 of 2012. Around 26 Million Euro is required to establish the 10,000 hectares until it reaches commercial production. This is around 5 to 6 years from plantation.
The first 10,000 hectare project will generate annual gross revenue of around 13.7 Million Euro once it is fully planted and commercially productive.
These lease areas will provide employment and income to the local people and will generate a business opportunity to the farmers’ cooperatives who will be involved in our biodiesel and feedstock plantation project, says Wilfredo B. Leano, President of CRC.
About Cleanergy Resource Corp.
Cleanergy Resource Corp. (CRC), a Richmond, BC (Canada) based company is listed with Frankfurt Stock Exchange (FSE) - First Quotation Board (FQB). CRC is a social corporation devoted in developing local economy through its unique approach using renewable and alternative fuels as its vehicle. It has conceptualized a practical plan for the establishment of community-based biodiesel production with its uniquely designed self-contained, portable community-based biodiesel production equipment using its CRC BioProcessor. The community-based production equipment is scalable to meet local market requirement as well as for world market.
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Datum: 13.10.2011 - 07:55 Uhr
Sprache: Deutsch
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