Romero Group to invest up to US$ 45 million in biodiesel products in Loreto

The company Palma del Espino, which belongs to Romero Group, might invest up to 45 million dollars in a project for oil palm cultivation in Loreto and a plant for oil extraction to produce biodiesel, reported today the general manager of Palma del Espino, Ronald Campbell

The project consists of 10,000 hectares of oil palm cultivation in the region. It will be invested 3,000 and 3,500 dollars per hectare that fulfills all the technical requirements, he said to the Andina news agency.

"If we plan to install 10,000 hectares, we are talking about 30 millions to 35 million dollars of investment for the agricultural industry, and it must be accompanied of an extraction plant to get the oil (for the biodiesel) from the palm and this can mean up to ten million dollars of investment ", he said.

Publication: Andina - English Newswire
Provider: Andina
Date: July 16, 2008

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