By Juzel L. Danganan
MANILA, April 23 (PNA) — Roxas Pacific Bioenergy Corporation, a subsidiary of Roxas Holdings Inc., has signed a Php 46.72 million purchase deal with Valmayor Ventures, Inc. for its 2.96 percent shares in San Carlos Bioenergy Inc.
” Please be informed that Roxas Pacific Bioenergy Corporation (RPBC), a subsidiary of Roxas Holdings, Inc. (RHI), executed today a Sale and Purchase Agreement with Valmayor Ventures, Inc. for the acquisition of the latter’s 2.966% shareholdings in San Carlos Bioenergy, Inc. (SCBI) at the price of Php46,721,000.,” Roxas Holdings said in a disclosure with the Philippine Stock Exchange (PSE) Thursday.
SCBI owns and operates an integrated fuel bio-ethanol distillery and power co-generation facility in San Carlos City, Negros Occidental. It is located in San Carlos’s Agro-Industrial Economic Zone.
The facility processes a maximum of 1,500 tons of sugarcane to produce 125,000 liters of bioethanol and supplies about 2.4 Megawatts (MWs) to the Visayas power grid.
It supplies bioethanol to Petron Corporation and provides electricity to VMC Rural Electric Cooperative (VRESCO), Inc.
SCBI also supplies three local plantations for their sugarcane requirements. (PNA)