Dr. Gyungsoo Kim, CEO of Biolsystems Co Ltd (Seoul) signed a memorandum of understanding (MoU) with the Governor of Bohol (Philippines) Erico Aumentado regarding a bioethanol project.
Accoding to the the MoU, the province of Bohol would give Biolsystems Co Ltd:
- 3 ha of land for aquaculture testing
- 500 ha to seedling plantations and at least
- 25,000-100,000 ha to aquaculture property.
Biolsystems Co Ltd would be given this over a 50 year period which may then extend for a further 25 years.
The aquaculture plantation will be more of a community than an aquaculture farm and 60 ha of the total land will be made available for housing, the farm will also provide over 300 jobs for ethanol extraction with a total investment of US $100 million. Training will also be provided to locals to increase awareness and to teach the techniques of farming and drying of algae.
Tony Piccolo – Aquatic Biofuels Specialist, Rome-Italy
Aquatic Biofuel Specialist
