Jatoil takes majority stake in Vietnamese jatropha

An agreement has been reached for Jatoil to take a majority controlling interest in its Vietnamese jatropha plantations, as a precursor to raising external funding to boost its crude jatropha oil output. Chief Executive Phil Hodgson said some 22 nurseries have been established, agricultural testing stations built and agreements negotiated with hundreds of farmers. Jatoil’s additional investment in the Green Energy Vietnam (GEV) joint venture fulfils the terms of a transaction that was first negotiated in 2008 and will boost Jatoil’s shareholding to 51%. (April 19, 2010)