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We'll be operational in Q1 2008 - Joe Kruger, Ethanol Africa MD
In an interview on Radio 2000 @ 18:50 on Tuesday, 25 July 2006
[miningmx.com] -- ETHANOL Africa, a company hoping to produce ethanol from maize (corn), said it would begin first production from its R700m plant before April 2008.
"We're aiming at finishing construction at the end of 2007/2008 depending on the luck of the draw. In the first quarter of 2008 we'll be operational," he said.
Brazil has been producing ethanol from corn for about 20 years but at significant capital cost. Ethanol Africa is hoping to produce ethanol from seven different plants, some in the Free State province, at a total capital cost of R7bn.
The company, which is listing on Britain's Alternative Investment Market (AIM) by January 2007 at the latest, said it was confident of raising the money.
Kruger said AIM had shown the most interest in supporting the project although there was additional interest from Johannesburg. "London has been more receptive at this
point in our life cycle," said Kruger.
Kruger was also hopeful that the South African government would promulgate legislation by October requiring that ethanol contribute to 10% of the fuel stream in the country over time.
"We're not sure of the phasing," said Kruger of government's plans. Government was also hoping to source a large part of future power from renewable energy of biofuels was an important element, said Kruger.
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