31 October 2006 14:27 [Source: ICIS news]
LONDON (ICIS news)--Finland-based forest products group UPM said on Tuesday it planned to become a significant producer of biodiesel in Europe, using wood-based biomass as a raw material.?xml:namespace>
UPM said it would start building a commercial-scale production plant within the next two years next to one of its paper mill sites in ?xml:namespace>
“The production of bio-fuel is a good fit for UPM since its core business is to add value to the wood raw material,” said UPM president and CEO Jussi Pesonen. "Investments in developments of concepts and plants will be significant."
It was too early to give details on the size of the project in terms of investment costs or capacity, said the company.
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