Pure Biofuels Corp. (PBOF.OB) Inks Agreement to Acquire 14,000 Additional Hectares for Palm Oil Cultivation in Peru
Spain has had too much reliance on the construction industy and I have thought that it should look to new fields to broaden it´s economy. The Pure Biofuels (PBOF.OB) model (from Peru) might be one option, despite the recent dramatic fall in the price of crude. The Southern region of Spain Andalucia might be a good area - for example Cadiz and Huelva. I am publishing the post below in the hope that someone in authority might find it and act on it.
Thursday, January 31st, 2008Pure Biofuels Corp. recently announced they have signed an agreement with Immobiliaria Alpha SAC to purchase 15,000 Hectares of land. In the agreement Pure will acquire 100% of the shares of Immobilaria and transfer 1,000 hectares of land back to the seller after the acquisition is completed, which is currently scheduled for the end of March. The 14,000 hectares to be acquired by Pure is currently empty and deforested and has already undergone improvements including roads, infrastructure and electricity. Closing of the land acquisition is subject to customary closing conditions.
Since 2006, Pure Biofuels Corp. has been proven to be a leader in South America’s rapidly emerging biofuels industry. Their center of operations, the Callao port biodiesel refinery, is expected to be able to process up to 150,000 gallons of biodiesel per day. The refinery is scheduled to be up and running at full capacity by the end of February 2008.
The company currently owns and operates 60,000 hectares of land in Peru, and expects the new 14,000 hectare plantation will provide up to 40% of the necessary feedstock to reach full capacity for those facilities. The company has additional plans for more land acquisitions to satisfy its remaining and future growth needs. Seeds for the new African palms have been ordered and nurseries will be set up within the next 90 days. The first returns from this new property should be expected within the next 24 to 36 months.
