PNG

Koreans launch PNG biofuels scheme

SOUTH Korea's Shangae International has launched a 335 million kina ($US113 million) project in P...

Koreans launch PNG biofuels scheme

The company has been allocated 2714 hectares of land to grow cassava and will market the biofuel it produces to South Korea and other potential markets in Australia and the United States, according to PNG's Post-Courier newspaper.

PNG Prime Minister Sir Michael Somare promised K1 million to maintain the project, saying that producing biofuel from palm oil and cassava fulfils one of the government’s goals to promote "green" fuels.

Minister for Lands and Physical Planning Puka Temu said the government planned to increase the country's economy by 5% but claimed that this could increase by a further 10% if all landowners were willing to open up their land for agriculture development.

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