According to recent foreign media reports, Japan's Toyo Engineering Co. is planning to establish an integrated coconut biodiesel plant in the Philippines. As part of its preparation for this ambitious project, Dongyang Corporation has already begun developing 600,000 hectares of coconut farmland. This move signals a significant shift in the country’s energy strategy, as it seeks to leverage its natural resources and reduce reliance on imported fossil fuels.
The Philippines is the world's largest exporter of coconut oil and related products, making it an ideal location for such a venture. A representative from the country’s relevant department confirmed that Dongyang Engineering has been in discussions regarding the development of coconut farmland in northern regions. It is expected that the actual development work could start next month, marking a new phase in the country’s renewable energy initiative.
With global crude oil prices surging to a record high of $75.35 per barrel in late April, Asian countries like Japan are actively exploring alternative fuel sources. The Philippines, which spends approximately $6 billion annually on importing crude oil and petroleum products, is now focusing on using locally grown crops, such as coconuts, to produce biofuels.
In early May, the country launched Asia’s largest coconut biodiesel plant, constructed by local firm Chemrez, with a production capacity of 60 million liters per year. Currently, the Philippines has a total coconut biodiesel capacity of 110 million liters annually, showing a growing commitment to sustainable energy solutions. This new project by Toyo Engineering could further boost the sector and position the Philippines as a key player in the regional biofuel market.
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