MAE Engineering mulls Singapore biodiesel plant

26 July 2006 08:23  [Source: ICIS news]

SINGAPORE (ICIS news)--MAE Engineering, a Singapore-listed engineering firm, is considering building a S$150-200m ($94.7-126.3m/€75.3-100.4m) biodiesel plant in Singapore, a company source said on Wednesday.

The company has started talks with Singapore’s Economic Development Board (EDB) to build a 150,000-200,000 tonnes/year biodiesel plant which would most likely be located in Jurong Island, he added.

Negotiations could be completed in the first half of next year and that construction of the palm oil-based project would take slightly more than a year, he said.

Malaysian biodiesel producer, Lereno, will provide technology for the proposed unit.

The company is also in talks with several North Asian companies to jointly invest in the project, the source said.

Output from the proposed unit will be exported to the European and North Asian markets such as Japan, South Korea and China.

The project is part of the company’s plans to move its focus from providing mechanical and engineering (M&E) services in the construction industry to biodiesel business. It is also in talks to buy a 38% stake in Lereno from Eligro, a privately owned Malaysian company. Financial details have not yet been disclosed.

By: Kelvin Ng
+65 6780 4356

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