Proposals are being put together to set up the bio fuel industry in the Naitasiri province with overseas investors ready to pump in an estimated $174 million into the economy.
Bio Fuels International represented by former Telepac Boss Tim Gibbons, local businessmen Glen Cable and Frank Eagleton along with Evergreen Fuels from Australia and Bio Fuels Investors in the US Dennis Hopkins are teaming up with Naitasiri Provincial Council Chairman Ratu Ilaitia Tuisese to embark on the multimillion dollar project which will see bio fuel produced from a tree called Pongamia, which has been growing wild in Fiji for over a century.
Gibbons said the project will be totally overseas funded.
Eggleton said a pilot project they have tried with papaya where they will not require to lease or own land for the project.
According to Ratu Ilaitia Tuisese they have some technical issues to sought out with the investors before taking it to the landowners in Naitasiri.
Plans To Establish Bio Fuel Industry in Naitasiri
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