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Global Energy Lays Groundwork For Project In Ethiopia
New York NY (SPX) Mar 28, 2008 Global Energy has announced that the Company has successfully finalized the first stage of its agricultural activities - castor farming in Ethiopia. Global, in conjunction with its subsidiaries, Global NRG Pacific and Global Energy Ethiopia, is involved in a project to plant, harvest and produce non-edible oil for the biodiesel industry and a myriad of other uses. GEE expects to commence seeding of castor in April, 2008 and harvest in August/September 2008. The expected yield of the harvest is 28,000 tons of seeds producing approximately 12,000 tons of castor oil. The current commodity price for castor ranges from $700.00U.S. to $1100.00 per ton. During the past five months, GEE has developed an infrastructure for an agricultural cooperative, in the regions of Waletia and Goma Gofa, Ethiopia. This includes, but is not limited to, signed agreements with over 25,000 families, to farm castor on approximately 7,500 hectares of their land. GEE's operations center is based in Sodo, Ethiopia, and includes a logistics center, computer center and a staff of Company trained agricultural supervisors. The castor initiative is located in southern Ethiopia, approximately 320 km south of the capital of Addis Ababa and is comprised of land area totaling 220km by 110km. GEE is concurrently conducting a research and development program to achieve new "species" of castor to improve future yields and intends to conduct studies in eight experimental sites simulating a variety of conditions. Additionally, the Company is training local personnel with twelve agronomists. "Global's work in Ethiopia represents another business model for the Company, one that is practical, provides a service to members of the local communities, and holds the potential to generate an ongoing significant revenue stream for the Company," stated Asi Shalgi, CEO. Related Links Global Energy
China Holdings Announces Fifth Biomass Energy Project
Beijing, China (SPX) Mar 27, 2008China Holdings has executed a Development and Construction Agreement with Huaxian Government, Hunan Province, People's Republic of China. The breakthrough brings the Company's total potential power capacity up to 320 MW in Alternative Energy Power Generation Plant/Projects Development Pipeline. |
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