Colombian CORPOICA Invests $865,900 in Biodiesel Plant

Colombian agricultural research institute CORPOICA invested 1.7 bln Colombian pesos ($865,900/591,400 euro) in a biodiesel plant, which will start operations in the near future, the daily Portafolio said on January 17, 2008.

The plant is expected to produce 2,000 litres of biodiesel daily and it will be sold to the more than 10,000 residents of the municipality Salahonda, in the southwestern department Narino.

If the performance of the plant is good, CORPOICA will study the opportunities to build biodiesel plants in other parts of Colombia as well.

Part of the resources, which CORPOICA invested in the plant in Narino, were provided by the country's Ministry of Agriculture. The plant will use palm oil as raw material for the production of biodiesel.

Biodiesel is an environment friendly renewable fuel for diesel engines derived from natural oils such as soybean oil or animal fats, following strict industry specifications ASTM D6751, and at present Germany is the largest biodiesel producer worldwide.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: January 18, 2008


Colombian Promigas To Invest $44.6 Mln in Stakes in Gas Distributors 2008

Colombian gas utility Promigas will invest a total 87 bln Colombian pesos ($44.56 mln/30.5 mln euro) in buying stakes in gas distributors in the country in 2008, the company said on January 16, 2008.

The gas utility will take loans from local banks in order to finance these investments.

Promigas currently transports 46 pct of the natural gas consumed in Colombia. It has agreements with the local gas distributors Centragas, GBS, Transmetano, Transoriente and Transoccidente.

Promigas is investing $225 mln (154 mln euro) to expand in Colombia and abroad, the Latin America News Digest said on January 4, 2008. In line with these efforts Promigas has signed a leasing agreement with local bank Bancolombia for $15 mln (10.27 mln euro). The company will use the amount to finance the construction of a gas pipeline connecting Promigas's gas transporting facilities to Colombian natural gas field La Creciente.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: January 17, 2008