Biodiesel is set to gain ground in Barbados news of a deal between Integrated Bio-Energy Resources based there and Guyana on the near-by South American mainland, according to BioPact.
Integrated Bio-Energy Resources got the green light last week to utilise more than 162,000 hectares (400,000 acres) of land Guyana, (which is famous as the only South American counry to play cricket), for a palm oil plant project to produce bio-diesel
Integrated Bio-Energy Resources projects it will produce over one million gallons [3.785 million liters] of biodiesel per day, with plans for expansion to over three million gallons per day [11.36 million liters] making it one of the Caribbean's largest operations. 11.36 million liters per day comes down to a production of roughly 71,000 barrels oil equivalent per day:
Managing director Hally Haynes, also noted talks had already begun with the Barbados Government and it was estimated that the company would generate an income of over US$13 million at the end of the first year.