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BIOFUELS
SA firm plans R250m biodiesel plant
 
30th March 2009
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South African biodiesel production company First In Spec BioDiesel was planning to build a R250-million biodiesel plant that would convert waste vegetable oil into biodiesel, a company official said on Monday.

MD Louis Nyiri told delegates at the African biofuels conference, in Midrand, on Monday, that it was planning to build a plant to produce 50-million litres a year of biodiesel.

The company had already signed letters of intent for about 15-million litres a year of feedstock from companies abroad, as it would be cheaper to import the feedstock from foreign countries.

The plant would require between three-million and four-million litres a month of feedstock, he said.

Nyiri noted that the company could bring R50-million in equity to the table and was looking to acquire funding for the rest of the project costs.

He added that if biofuels project developers had a good plan, they stood a good chance of obtaining funding, even in economically difficult times. Bringing in more parties to share the debt would also likely make it easier to obtain financing, said Nyiri.

Edited by: Mariaan Webb
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