INEOS Plans Major Investment in New Biodiesel Facility at Port of Antwerp
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INEOS Enterprises has announced details of its proposals for a major investment in a new biodiesel facility at the INEOS site at Zwijndrecht in the Port of Antwerp. The investment, which will be in excess of EUR90 million, forms part of the Company's strategy to deliver significant growth and become the premier supplier of biodiesel across Europe. The Company expects the plant to be operational by early 2009.
The new facility, which will have a capacity of at least 500,000 tonnes per annum, intends to use a good proportion of feedstock sourced from Belgian suppliers. It will have the capability of providing secure biodiesel supplies to the entire Belgian biofuels market in addition to supplying further afield across Europe. The facility would also use glycerine as a bi-product of biodiesel production to stimulate the development of glycerine technology at the site. In parallel to this investment by INEOS, a third party investment in a new vegetable oil extraction facility is also being planned in the vicinity, bringing about further synergies, and leading to the creation of a regional 'bio-hub'.
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