SAFI ties up with foreign firms

Safi Agro Industries, Inc. (SAFI), a local firm in Sarangani, name of province, in the Philippines, has partnered with some Japanese and Korean investors, to set up a joint venture to produce biofuels. The business venture, Sarangani Bio Corporation (SBC), has eyed the locally known tuba-tuba plant (jatropha), as feedstock source. SBC reportedly plans to acquire some 50,000 hectares of property where it will grow and process the jatropha, said Rey Cardona, representative of SAFI. He said that in 2007, SAFI prepared the pilot batch of jatropha seedlings for a 100-hectare land in Siguel, Maasim town, also in Sarangani. The business venture, which is expected to generate more jobs for the locals, will go full swing in the near future, Cardona said. Region 12 is seen to have 695,150 hectares of land suitable for growing jatropha but SBC would first concentrate with the 50,000-hectare target in Sarangani, he said. (July 17, 2008)