MyFuel to build biodiesel plants in Port Klang

Biodiesel supplier and trader, MyFuel Ltd., is setting up two palm oil-based biodiesel plants worth RM160 million (US$47.5 million) in Malaysia to capitalize on strong global demand. MyFuel has formed its Malaysian subsidiary Biodiesel SP Sdn Bhd to oversee the venture, located at a 3.2 hectare site in Port Klang Free Zone (PKFZ). The two biodiesel plants have a capacity to produce 100,000 and 250,000 tons per year. Biodiesel SP Group Managing Director George Joukador said at full production, the plants will create annual business turnover and other spin-offs estimated to exceed RM1 billion (US$296.7 million). The plants will be built by leading regional contractor Fine Matrix Projects Sdn Bhd, with oleo process equipment supplied by European biodiesel plant builder Desmet Ballestra. (October 4, 2007)