Bangchak Petroleum to invest in tapioca-based ethanol

Bangchak Petroleum P.L.C. said it would revive a plan to invest in a tapioca-fed ethanol plant in Thailand. Bangchak decided to reconsider the plan as it expects ethanol prices to rise in the next quarter by at least 2 baht (US$0.06) per liter, which in turn would boost gasohol prices. The ethanol plant would require an investment budget of 1 billion baht (US$29.26 million), 40% of which will be internally funded. Bangchak had earlier purchased ethanol at 22 baht (US$0.64) per liter, higher than the ethanol reference price of 18 baht (US$0.53) that was then announced by the Energy Policy and Planning Office (EPPO). (May 23, 2009)