Mozambique to get 19 million dollar biofuels project

Mozambique’s state fuel company has partnered with the private sector to invest 19 million dollars (14 million euros) in biofuel production. According to state media, a minimum of 10,000 hectares will be cultivated at first, with possible expansion to 50,000 hectares later. Recent fuel price hikes and the declining value of the Mozambican currency have forced the government to look for fuel alternatives. There are growing concerns that with biofuels the level and volatility of agricultural world prices, which are now linked to the development of the crude oil price, will increase further. Read more here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: