Bunge plans two biodiesel plants in Spain

Bunge plans two biodiesel plants in Spain
Reuters - USA
CHICAGO, Oct 2 (Reuters) - Oilseed processor Bunge Ltd. (BG.N: Quote, Profile, Research) announced on Monday plans to build two biodiesel plants in Spain ...

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CHICAGO, Oct 2 (Reuters) - Oilseed processor Bunge Ltd. (BG.N: Quote, Profile, Research) announced on Monday plans to build two biodiesel plants in Spain through a joint venture with construction and energy conglomerate Acciona (ANA.MC: Quote, Profile, Research).

Bunge Iberica, the company's Spanish operating arm, said the plants will be located next to its newly constructed oilseed processing plants and vegetable oil refineries in Bilbao and Cartagena. Bunge, the world's largest oilseed processor, will be a minority investor.

Bunge will supply the biodiesel plants with soyoil from its nearby facilities, and Acciona will manage biodiesel production. The biodiesel plant in Bilbao is expected to have a yearly capacity of 200,000 tonnes.

The oilseed processing plant and refinery in Cartagena is expected to be fully operational in early 2007.



Repsol YPF (REP.MC: Quote, Profile, Research), a large refiner of petroleum in Spain, will purchase the end product from the biodiesel plants. In March, Acciona and Repsol reached an agreement to develop new plants near Repsol's crude oil facilities, including those in Bilbao and Cartagena.

Biodiesel can be made from a variety of oilseeds including soybeans, canola and rapeseed.

Governments around the world are mandating the use of renewable fuels such as biodiesel to reduce dependence on petroleum and to help the environment.

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