Aboitiz Equity, Gazasia Sign JV Deal for Waste-To-Fuel Facilities
June 05 2012 - 10:30PM
Dow Jones News
By Rhea Sandique-Carlos
MANILA--Aboitiz Equity Ventures Inc. (AEV.PH) said Wednesday it
has signed a memorandum of agreement for a joint venture with
Gazasia Ltd. to develop waste-to-fuel facilities in the
Philippines.
The facilities will convert organic waste material into a
carbon-neutral, renewable fuel for vehicles in the form of liquid
biomethane, the company said in a filing to the stock exchange.
Gazasia, a U.K.-based company, will provide technical expertise,
specialized equipment and project management.
Aboitiz Equity, on the other hand, will provide funding for the
project and access to markets in various parts of the
Philippines.
Financial details and the timeline for the project weren't
mentioned in the statement.
Write to Rhea Sandique-Carlos at
rhea.sandique-carlos@dowjones.com
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