Alsons Consolidated Resources Inc., a holding company owned by the Alcantara family, plans to tap International Finance Corp., the investment arm of World Bank, to partially fund its P2.3-billion bio-ethanol project in Bukidnon.

Alsons president Tomas Alcantara told reporters that the company might qualify for IFC funding because of the project?s location in Mindanao, a priority area of the World Bank unit. Alsons? project is also energy-related, another priority sector of IFC.

Alcantara said it might request IFC to fund at least 15 percent of the total cost of the bio-ethanol project.

Alcantara said the company was also considering tapping export credit agencies from the United States and Japan to help fund the project.

He said the company was teaming up with Energy Generating Public Co. (Egco) of Thailand and Toyota Tsusho for the bioethanol business.

Pending the finalization of a partnership agreement, Alcantara said Alsons would own majority shares in the soon-to-be formed consortium.

Egco of Thailand and Toyota Tsusho are also Alsons? partners in power projects.

Alsons plans to build two ethanol plants, one each in Bukidnon and South Cotabato.

The company plans to put up the P2.3-billion Bukidnon bioethanol plant with an intial production capacity of 100,000 liters a day using cassava as feedstock.

Construction of the plant will start next year and will be completed after three to four years. Jenniffer B. Austria