Biofuel-from-seaweed plant planned for Argentina

27 February 2008 00:39  [Source: ICIS news]

BUENOS AIRES (ICIS news)--Korea’s Neneka group will invest $108m (72m) in a a biodiesel-from-seaweed facility in Argentina with support from Hanil investment bank, a key official said on Tuesday.

Argentina’s Oil Fox will build the plant this year, said company President Jorge Kaloustian.

“This is going to be the first biofuel [plant] of this type in the world”, said Kaloustian in Spanish.

The plant at San Nicolas in the province of Buenos Aires will have a production rate of 240,000 tonnes/year in 2008, Kaloustian said. That rate will eventually reach 480,000 tonnes/year.

The seaweed will be cultivated in the southern province of Chubut.

Neneka President Hi Ho Choi visited Argentina last week.

“The interest of the Korean group is based on the potential of the biofuel business and in the seaweed as a differential rough material” Kaloustian said.

The firm expects to export the total of the production to the external markets, Kaloustian said.

($1 = €0.67)

Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels

By: Cristina Kroll
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