The energy and agriculture project includes the ethanol refinery and the biomass fuelled power plant.
The project started in 2008 and includes the development of a Greenfield sugarcane plantation, the construction of an ethanol refinery and a biomass fuelled power plant.
Addax Bioenergy said the power project is expected to be operational in 2013.
Agriculture minister Joseph Sam Sesay said the sugarcane ethanol project complies with international social, cultural and environmental best practice standards.
