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ABC and Oilsource Holding Group Inc. have formed a 50-50 joint venture,
Abundant Biofuels Colombia SRL, to grow andrefine Jatropha to produce
biodiesel that will then be sold in country. The joint venture will work
with a co-op of tribal groups, land owners, and the Government of Colombia
to grow Jatropha and produce biodiesel. Oilsource Holding Group has
committed to raise the funding needed for operations and to provide most
of the in-country management with ABC providing scientific and technical
consulting. Subject to completing the preliminary carbon credit
documentation, the joint venture is prepared to plant 20,000 hectares and
plans to develop an additional 100,000 hectares of Jatropha by 2012, with
the opportunity to expand to over 500,000 hectares over the next 3 to 5
years.
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