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IBI Signs Letter of Intent to Build Biodiesel Plant at Port Facilities in Argentina

Posted on: Friday, 2 November 2007, 09:00 CDT

SAO PAULO, Brazil, Nov. 2 /PRNewswire/ -- On October 25th, Integrated Biodiesel Industries, Ltd (IBI) signed a Letter of Intent with port operator Terminal Puerto Rosario S.A. (TPR) to build a 60,000 metric tons per year biodiesel plant inside its facilities in the city of Rosario, Argentina.

TPR will offer existent infrastructure such as land, storage tanks with 12,000 cubic meter capacity and loading equipment. The existing berths allow for both barge and vessel operations for unloading vegetable oil and shipping biodiesel.

"This is IBI's most important project as the port location will offer extremely low logistics costs, allowing us quick turnaround times and great operational savings," says Marcelo Lopes, IBI's Chief Operating Officer.

Dr. Jose Galetti, chairman of the Argentinean Federal Riverway Committee, adds: "We welcome IBI and its partners to the city of Rosario, which is becoming an important biofuel production area due to its proximity to soybean farms and the perfect logistics structure available in the many ports along the Parana River."

The total investment is estimated at US$ 3,5 million, which IBI will share with local investors while retaining management and marketing control. Revenues are expected to reach US$ 54 million per year at current biodiesel prices.

This plant adds to other IBI's developments in the same city such as the Diferal plant - where a minority interest has been recently acquired - and the other IBI plant set to break ground before the end of the year. A total capacity of 10,000 tons per month (equivalent of 11.2 million liters of diesel fuel on a monthly basis) will be reached when all three plants are up and running.

At current prices IBI expects revenues to exceed US$ 100 million on an annual basis once the plants are operational.

About Integrated Biodiesel Industries, Ltd

Integrated Biodiesel Industries, Ltd (IBI) is a biodiesel company with activities in Brazil and Argentina focused on downstream operations (production and distribution) and the development of an international base of end consumers such as truck fleet operators, railway companies and oil-fueled power plants.

Website: http://www.biodieselindustries.net/ Email: media@biodieselindustries.net About Terminal Puerto Rosario S.A.

Terminal Puerto Rosario S.A. (TPR) is a private company which operates the multipurpose public port of Rosario, Argentina, since 2002. The port facilities comprise two terminals spread over 65,000 square meters of area, 1,200 meters of quay, 30,000 square meters of warehouse space and 33 kilometers of railway lines. TPR provides handling for bulk and bagged cargoes, dry and reefer containers as well as other specialized services.

Website: http://www.puertoderosario.com.ar/ Email: info@puertoderosario.com.ar

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/.

Integrated Biodiesel Industries, Ltd

CONTACT: Integrated Biodiesel Industries, Ltd,media@biodieselindustries.net; or Terminal Puerto Rosario S.A.,info@puertoderosario.com.ar

Web site: http://www.biodieselindustries.net/http://www.puertoderosario.com.ar/

Source: PRNewswire

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