30 March 2011 20:03 [Source: ICIS news]
BUENOS AIRES (ICIS)--German chemicals company Evonik Degussa will build a new alcoholates manufacturing plant in the Argentine ?xml:namespace>
“Evonik Degussa is the leading world supplier of this product and it holds in
The investment for this project will be of $30m (€21.3m). The plant will produce alcoholates to be used as catalysts for the manufacture of biodiesel in
The plant will have nameplate capacity of at least 60,000 tonnes/year, the company said.
“We estimate the about two-thirds of this production will be destinated to the Argentine biofuels market, which concentrates in
“The rest of the production could be exported to neighbouring countries such as
The investment was boosted by Argentina´s rising biodiesel industry, which in 2010 became the fourth-largest producer in the world, according to the Argentine Renewable Energies Chamber (CADER).
The plant will be located in Puerto General San Martin, in the
Construction of the plant will begin in July 2011, and it is estimated the plant would begin operations in the fourth quarter of 2012, the company said.
“The company decided to strengthen its position in the Latin American region given that it holds a large supply of sustainable feedstock at competitive prices, and there’s also a strong biofuels industry,” said Noppe.
José Manuel Verjes Cebrian, vice president of Evonik Degussa, and Rolando Strafe, president of the local branch of the company, met with Argentine President Cristina Fernandez and National Industry Minister Debora Giorgi on 28 March to discuss the investment.
($1 = €0.71)
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