China Integrated Energy completes new biodiesel plant

China Integrated Energy, Inc., a leading non-state-owned integrated energy company in the People’s Republic of China, announced that it has completed the construction of a new 50,000-ton biodiesel production facility, adjacent to its existing 100,000-ton biodiesel production facility in Tongchuan City, Shaanxi Province. The new facility will bring the company’s total biodiesel production capacity to 200,000 tons per annum. The company also operates a 50,000-ton plant in Chongqing City, in southwestern China. The total construction cost of the new biodiesel production facility was approximately US$19.3 million. The facility is expected to be operating at 25-30% capacity in the first quarter of 2011 and 50-60% capacity in the second quarter, ramping up to 80-90% utilization rate in the third quarter. For the full year of 2011, the new facility is expected to contribute approximately US$21 million in revenue and US$5.2 million in net income. (January 31, 2011)