IOI plans first biodiesel plant in Europe

Malaysia’s plantation giant, IOI Corp. Bhd may build its first biodiesel plant overseas, possibly in Europe in 2007, Group Executive Chairman Tan Sri Lee Shin Cheng said. The European Union wants biofuels to account for an average 5.75% of transport fuel by 2010. Apart from the planned expansion in Europe, IOI Corp. has already secured a license to build a 200,000-ton capacity biodiesel plant in Tanjung Langsat, Johor, in Malaysia. (November 24, 2006)