Published 24th January, 2011
Singapore's Legend Venture is aiming to develop a multi-millon dollar castor project for biofuels.
The company will join environmental IT specialists Home Touch Holding Co. to develop three million acres of castor plant cultivation of the next five years in China and South East Asia.
The Y90m ($13.6m) project is set to grow around 30,000 acres in its first year, 2011 while the partners seek further investors and land to expand the project. Castor oil is already used for producing lubricants and paints, amongst other products. It has also been developed for biodiesel production although this process is still highly priced.
Home Touch is best known in the region for its energy-efficient IT systems including touch technology and remote switch and temperature control devices.