Becco to invest Euro400m in Euro biofuels growth

12 April 2006 18:22  [Source: ICIS news]

LONDON (ICIS news)--Becco Bioefuels International plans to invest over Euro400m to build a series of biodiesel plants in Europe, the company’s chief executive Sagi Matza said on Wednesday.

The company hopes to install at least 900,000 tonne/year of total new capacity in Germany, Spain, Poland and the UK in the next five years, Matza revealed.

"We are are a worldwide biodiesel company and we are going to have refineries in all of these countries to supply the markets’ huge need for biodiesel," Matza said. "We are going to build the plants as soon as possible."

In Germany, Europe’s biggest biofuels market, Becco hopes to raise capacity at its existing facility near Berlin to a minimum of 200,000 tonne/year by late 2008 from 20,000 tonne/year now.

In Poland, Becco hopes to set up over 150,000 tonne/year of biodiesel output by the end of 2007, Matza added. The company hopes to bring its Szczecin, northwest Poland, factory on stream by early next year, he said, and has began building another factory in an undisclosed location. It is working to get permits for a third facility, Matza added.

Becco is also eyeing expansion in the UK where it is scouting locations. "We are checking the market now and if we decide to enter we would like to start with a project of at least 50,000 tonnes in the second half of this year," Matza revealed.

In Spain, Becco hopes to have well over 500,000 tonne/year of biodiesel capacity by 2011, Matza noted, adding that the company is negotiating factory projects in addition to the eight it has already said it will pursue.

"We want to cover the entire Spanish market so depending on what type of agreements we sign we may announce more expansion plans later on." 

Becco Bifouels is 100% owned by US private equity investment group Sage Capital Growth.

By: Ivan Castano Freeman
+44 20 8652 3214

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