Colombian President Alvaro Uribe has inaugurated a project to construct a new chemical plant that will produce ethanol from sugar beets.

The new plant will have the capacity to produce nearly 300,000 liters of ethanol fuel per day which is obtained through fermenting sugar beets.

The country is running several other ethanol plants that produce the chemical using sugar canes.

Under the country's regulations the gasoline which is distributed in Colombia is mixed with 10% ethanol.

The plant will be constructed in a 40-hectare zone in a rural area, about 150 kilometers north of Bogota.

The country's National Federation of Bio-fuels is planning to establish 27 ethanol plants by 2020, a project which requires at least $1,340 million in investment.

Many countries are turning to ethanol as an alternative fuel in a bid to cut greenhouse gas emissions and tackle the problem of climate change.

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