15 June 2010 10:04 [Source: ICIS news]
By Nurluqman Suratman and Serena Seng
The wholly-owned $3m modular plant would derive its feedstock of jatropha oil and used cooking oil from the open market before the company’s own plantation in ?xml:namespace>
The company aims to sell its biodiesel to both domestic and international markets, he added.
Fuelogical had already finalised contracts with “large oil companies” in
“We also have several buyers interested in our products in
Sivandran said more biodiesel plants were expected to come on stream in Asia in the next four to five years, despite a lack of legislation which promotes the use of the fuel in the region. The biofuel industry “will and have to grow” in the near future as an alternative to diesel fuel, he added.
Finland’s Neste Oil would soon bring on stream the its 800,000 tonne/year renewable diesel plant in Singapore in late October this year, in a move to operate closer to its feedstock source of palm oil in neighbouring Indonesia.
“Biofuels is the only way to reduce carbon emissions and the only replacement for diesel when it runs out,” Sivandran said.
However, the lack of legislation in
“It is clearly economic decisions that are affecting the biofuel industry at the moment in
Currently, only the
Industry sources concurred that persuading Asian companies to switch to biofuels would be an uphill task as buying diesel in bulk is still about 20% cheaper than buying biodiesel alternatives.
But the situation was changing as Sivandran said he saw an increasing number of large corporations in
With countries in
“The biodiesel industry could be worth $71m (€58m) by 2020,” Sivandran said.
($1 = €0.82)
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