The investment project that stipulates the production of bioethanol in Bobruisk and Mozyr is collapsing because of Irish Greenfield, Chairman of Belbiopharm concern Mikhail Cherepok told the Belarusian cabinet.
He reminded that Greenfield Project Management Limited in partnership with Belarus' state-owned Belbiopharm concern planned to organize a production of ethanol fuel in this country with an annual capacity of 65 million decaliters.
According to him, the cost of the project is "several hundred million euros."
The Belarusian partners of the Irish company are Mozyr-based Ethanol factory and Bobruisk Hydrolysis Plant - the produces of spirit-containing products. Greenfield Project is poised to have two joint ventures - COOO Greenfield-Ethanol-Mozyr and COOO Greenfield-Ethanol-Bobruisk - registered in Belarus, after which it will start building two ethanol-making facilities, with capacities of 10 million decaliters and 55 million decaliters, respectively.
In 2009, the productions were supposed to be launched at 80% of their design capacity, and the 100% level would be reached in 2010.
European consumers have already contracted to buy Belarusian ethanol that will be turned out in 2009-2010. The new fuel will be supplied to the European market as a fuel additive. The Belarusian companies of Greenfield Project project receipts at 350 million annually.
According to the deputy chairman of Belbiopharm, Vladimir Mogilevets, the investment project of Greenfield Project will help meet import-substituting targets. "We will also make related products, which are essential to our food sector and Agriculture Ministry," he said.
Besides, producers of ethanol are ready to buy up to 500,000 tonnes of grain cultivated in the areas affected by the Chernobyl disaster annually.