ADM to build biodiesel plant
Ethanol producer Archer Daniels Midland (ADM) is to begin building its second Brazil-based biofuel plant.
Construction of the biodiesel production plant is expected to commence next year before it is operational in 2012.
With an annual output capacity of 164,000 tonnes of biodiesel, the facility will be erected nearby to a soyabean crushing facility in Santa Catarina.
The news comes as ADM aims to boost its processing capacity to 10%, up from 7%.
In similar news, the company recently reported that its Q1 profits have decreased by 31%. On 28 October 2010 ADM reported a net income of $345 million (€245.95 million), down from $496 million ($0.77 per share) for the same period in 2009.
Construction of the biodiesel production plant is expected to commence next year before it is operational in 2012.
With an annual output capacity of 164,000 tonnes of biodiesel, the facility will be erected nearby to a soyabean crushing facility in Santa Catarina.
The news comes as ADM aims to boost its processing capacity to 10%, up from 7%.
In similar news, the company recently reported that its Q1 profits have decreased by 31%. On 28 October 2010 ADM reported a net income of $345 million (€245.95 million), down from $496 million ($0.77 per share) for the same period in 2009.
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