Green Fuel Invests in Bulgarian Biofuel Plant
Posted on: Tuesday, 30 October 2007, 09:01 CDT
Spanish biofuel company Green Fuel has announced that it is investing $71.8 million in a biodiesel and bioethanol plant in Bulgaria.
Construction begins in early 2008 and will be located in Pleven near the Danube. The plant will have an annual capacity to turn 250,000 tons of oil crop and 100,000 tons of grain crop into 110,000 tons of biodiesel and 60 million tons of bioethanol.
Raw material will be sourced from the local farmers directly. Green Fuel will take advantage of the site's proximity to Romania to import oil and grain. The new plant is expected to serve 50% of Bulgaria's biodiesel output.
Another site is expected to be announced shortly.
Source: Datamonitor
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