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Major Bio-Fuel Investment in Malaysia due to start in 2008 |
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Saturday, 06 October 2007 |
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MyFuel Group is to invest RM160 million (US$47 million) in biodiesel facilities in Malaysia which are scheduled to start production in June 2008. MyFuel expects the new plants to create annual business turnover and spin-offs exceeding RM1 billion.
The New Jersey-registered company is building two plants using palm oil as feedstock initially on a 3.2-ha site in Port Klang Free Zone. Total annual production capacity would be 350,000 tonnes. The plants will be managed by MyFuel Malaysian units Biodiesel SP Sdn Bhd and Biodiesel LD Sdn Bhd.
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