Japan’s Cosmo Oil announces $800 million biofuels feedstock project for Papua New Guinea

In Papua New Guinea, Japan’s Cosmo Oil announced that it intends to invest $800 million in the prospective development of corn, cassava and peanuts as biofuels feedstocks.

The company said that it will conduct six months of pre-feasibility studies including crop data gathering, followed by a three-year cultivation trial, prior to final crop selection and full-scale plantation gets underway.

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