Philippine Economic Zone Authority (PEZA) on Wednesday said it has approved ethanol maker Cavite Biofuels Producers, Inc. (CBPI) to create a 25-hectare economic zone in Magallanes, Cavite.
PEZA told the Philippines News Agency (PNA), CBPI has completed the requirements and need a presidential proclamation for the property to be recognized as an agro-industrial economic zone where business operations will enjoy tax perks.
The site will be home to a planned distillery capable of churning out 125,000 liters of ethanol per day.
PEZA said the project site is deemed “suitable for the development of a bioethanol plant in view of availability of product transport facilities, sugarcane sources and land for expansion, and favorable agro-climatic conditions for sugarcane produce and distillery operations”.
Magallanes is a fourth class municipality in the province of Cavite, Philippines. According to the 2007 census, it has a population of 18,890 people residing in 16 barangays. The town is named after Ferdinand Magellan.