Fernández signs biofuels law resolutions

Argentina's President Cristina Fernández has signed five resolutions to implement biofuels use law 26.093 which calls for an obligatory ethanol admixture of 5% starting in 2010.

The resolutions also regulate quality, quotas and pricing, among other aspects, the government said in a statement. The provinces of Tucumán, Salta and Jujuy are the country's principal sugarcane producers.

Tucumán produces 135Ml/y of alcohol of the 170Ml/y produced in the country, the provincial government said in a statement following the signing of the resolutions. An estimated 300Ml/y will be needed to meet the 5% blend.

Planning minister Julio de Vido said the ethanol program will require over US$500mn in investment.