Philippines - Independent Filipino oil firm Eastern Petroleum is in talks with investors for possible joint venture in building up ethanol facilities in the Philippines.
"Offers of joint venture and loans are there, the funds are there," Eastern Petroleum chairman Fernando Martinez said. He said the firm expects to seal a deal with South Korean and Japanese partners by March.
He did not name the foreign partners but admitted that Eastern Petroleum was maintaining a wait-and-see attitude now as some issues had to be resolved, such as the sustainability of feedstocks.
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Reported by Cristina Gallardo, write to
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