SA biofuels industry looks promising
In keeping with a growing corporate awareness of the importance of combating climate change, Ernst Janosky, head of agriculture at First National Bank, has said that SA is on the right track in its efforts to set up a profitable biofuels industry, reports the Mail & Guardian Online.
Last December, the government approved a draft industrial strategy for developing SAs biofuels industry, which could see the state and the private sector injecting R6bn in capital investment. According to the draft, the industry could contribute up to 75% of the country\'s renewable energy by 2013, without negatively affecting food security, reports Business Report. Agriculture and Land Affairs Minister Lulu Xingwana has promised that steps would be taken to ensure that biofuel crop production would not come at the expense of food security, according to Business Report. Xingwana was concerned about the rise in food prices in recent months and said that the department was closely monitoring factors contributing to this situation. A finalised biofuels strategy will be presented to Cabinet in June, Engineering News reports. Once it is agreed upon, the biofuels strategy is likely to have considerable consequences for farming, empowerment and employment, besides its contribution to renewable and cleaner energy and the balance of payments, presidency policy coordination and advisory services DDG Alan Hirsch said. Full Mail & Guardian Online report First report in Business Report Second report in Business Report Full Engineering News report