Business & Economics :: Latest News
November 6, 2007
Plans for biodiesel plant in Argentina
Rebekkah Marshall
Integrated Biodiesel Industries, Ltd (IBI; Sao Paulo) has signed a Letter of Intent with port operator Terminal Puerto Rosario S.A. (TPR) to build a 60,000-m.t./yr biodiesel plant inside its facilities in the city of Rosario, Argentina.
TPR will offer existent infrastructure such as land, storage tanks with 12,0000-cubic meter capacity and loading equipment. The existing berths allow for both barge and vessel operations for unloading vegetable oil and shipping biodiesel. Meanwhile, the port location offers extremely low logistics costs and proximity to local soybean farms.
The total investment is estimated at $3.5 million, which IBI will share with local investors while retaining management and marketing control. Revenues are expected to reach $54-million/yr at current biodiesel prices.
This plant adds to IBI's other developments in the same city including the Diferal plant — where a minority interest has been recently acquired — and another IBI plant set to break ground before the end of the year. A total capacity of 10,000 ton/mo (equivalent of 11.2-million liters of diesel fuel on a monthly basis) will be reached when all three plants are up and running.
