In a major front page story in The Australian Financial Review today (21.07.2003), breaking news of millions of dollars of financial support, backed up by legislation, will give the Australian ethanol industry the assistance of the Federal Government that has long been anticipated.
Australian petrol companies will begin by adding an ethanol content into petrol sold at the pump, with a maximum ethanol additive of 10%.
This Federal Government initiative is in line with an election promise made by the Federal Government prior to the 2001 election.
Ethanol additive improves the effect on the environment compared with pure petrol, coupled with a substantial foreign exchange saving, has encouraged Federal Government's strong pro-ethanol stance.
Indcor (ICO), an Australian company listed on the ASX, is strategically poised to take advantage of this new initiative.
IMHO, ICO will be one of the stand-out stocks on the ASX in 2003.
