15 April 2010 21:09 [Source: ICIS news]
Correction: In the ICIS story headlined “Argentina Unitec Bio to double biodiesel plant capacity” dated 15 April 2010, please read in the fourth paragraph ...240,000 tonnes/year of glycerine... instead of ...24,000 tonnes/year of glycerine.... A corrected story follows.
BUENOS AIRES (ICIS)--One of the largest biodiesel producers in Argentina, Unitec Bio, is planning to double the production of soy-based biodiesel at its plant in the province of Santa Fe, the CEO said on Thursday.
“Unitec Bio plans to double the nameplate capacity for biodiesel in its Port San Martin plant by 2011, reaching 480,000 tonnes a year,” CEO Fernando Pelaez said in an interview with ICIS.
“The company is also analysing an entrance into the ethanol business," he said.
The plant currently produces 240,000 tonnes/year of biodiesel along with 240,000 tonnes/year of glycerine.
The initial investment for this facility was worth $70m (€51m), plus another $30m as working capital.
This increase followed a recent announcement by Federal Planning Manager Julio De Vido, who said that diesel in Argentina will be blended with 20% biodiesel by 2014.
($1 = €0.73)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|