30 October 2008 21:12 [Source: ICIS news]
BUENOS AIRES (ICIS news)--Brazilian biodiesel producer Integrated Biodiesel Industries (IBI) plans to build another plant in Argentina's Santa Fe province, bringing its total investment in the area to $2.2m (€1.7m), the company's president said on Thursday.
The second plant will have a capacity of 50,000 tonnes/year, said Marcelo Lopes, IBI president. Production should start in March.
The plant will join a 25,000 tonne/year biodiesel plant that should start production in December, Lopes said.
“Without a doubt, Argentina is the best place for biodiesel investments at the moment," he said. "It is the most competitive country for this business, not only for tax reasons, but also for logistics."
Both biodiesel plants are located in a biofuels complex in Santa Fe, a province that grants tax exemptions for biofuels producers. The complex is also connected to a port, and the complex serves companies that specialise in the biofuels industry.
In addition, Argentina is a large soybean producer, Lopes said.
When the plants are completed, IBI will have a 40% stake in the first plant and an 80% stake in the second, he said. A local company will own the remaining stakes in the plants.
($1 = €0.78)
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