[Biodiesel News] Texas BioDiesel to build US$143mn biodiesel plant - Panama

Texas BioDiesel to build US$143mn biodiesel plant - Panama

BNamericas - Santiago,Chile

Houston-based Texas BioDiesel expects to begin initial works in the next two months on a 100 million gallon a year (379 million liters a year) biodiesel plant ...

 

Houston-based Texas BioDiesel expects to begin initial works in the next two months on a 100 million gallon a year (379 million liters a year) biodiesel plant in Panama, company president and CEO John Autrey told BNamericas.

 

The US$143mn plant will use palm, mustard seed and other vegetable products supplied by local farming cooperatives such as Cooperativa Empresa Productora de Palma de Aceite de Chiriquí.

 

Initial works entail building an extraction facility, while the plant itself is due to begin operating mid-2007, said Autrey, adding the plant will most likely be built at Puerto Armuelles in Chiriquí province.

 

Texas BioDiesel will transport oil from the extraction facility to its Houston biodiesel plant until the Panama plant starts operations, he said.

 

Private banks and the US Export-Import Bank (Ex-Im) are helping finance the project.

 

This project will be the company's first in Latin America, although talks are underway in other countries such as Argentina, Bolivia and Brazil to install plants, Autrey said.

 

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Posted by Vince to Biodiesel News at 9/22/2006 05:30:00 AM