China Integrated announces progress

China Integrated Energy Inc., a leading non-state-owned integrated energy company in China, announced that it is progressing on its goal of doubling its biodiesel production capacity to 200,000 metric tons (MT) in 2010 through both internal expansion and an acquisition. Toward that goal, China Integrated Energy, Inc. signed a non-binding letter of intent (LOI) to acquire a Sichuan-based company with 50,000 MT of capacity. The acquisition cost is estimated at US$16.5 million and has an expected payback of less than two years. (July 7, 2010)