KfW disburses USD 20m for Maple ethanol project in Peru
(ADPnews) - Sep 29, 2010 - German state-owned development bank KfW has disbursed USD 20 million (EUR 14.7m) for the ethanol project of energy company Maple Energy Plc (LON:MPLE) in Peru, the Andean Development Corp (CAF) said yesterday.
Maple will receive the money as part of a USD 65 million loan, extended to the project by CAF. The corporation approved the loan in early 2010.
In July 2010, KfW and CAF signed a cooperation agreement aimed at mitigating the climate change effects and supporting infrastructure projects in Latin America.
Maple is developing an agroindustrial complex in northwestern Peru to produce 35 million gallons (132.5 million litres) of ethanol a year, mainly for exports.
The company plans to start commercial ethanol production in 2011.
(USD 1.0 = EUR 0.736)
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