Posted at 02/16/2011 2:59 PM

MANILA, Philippines - Chemrez Technologies Inc. is investing nearly P369 million in a new plant that will allow it to export green technology products.

The firm, which is known for producing biodiesel, announced it would expand its product line to include oleochemical specialty products and derivatives for the export market.

It said the new plant will be the "first and only" facility capable of commercially producing distilled and fractionated coco methyl esters in the Philippines at the rate of 15,000 metric tons per year.

Fractionated coco methyl esters are used as raw materials for shampoos, body wash, liquid soaps and similar liquid formulations; emulsifiers for food and cosmetic; and lubricants for plastics.

Chemrez said it would export at least 50% of the plant's output to the US, Middle East, Australia and various Asian countries.

The company has applied for registration of the project with the Board of Investments.

Updated as of 02/16/2011 3:00 PM