Banchak Petroleum invests in ethanol
Thailand-based Bangchak Petroleum is planning to invest approximately Bt2 billion (€48.7 million) in the acquisition of at least two ethanol plants by 2011.
The company currently sells 95-octane petrol but plans to stop doing so by 2012 as ethanol demand for transportation fuel is expected to increase from 200,000 barrels per day in 2009 to 400,000 barrels per day.
According to Bangchak’s president Anusorn Sangnimnuan, the acquisition of the first ethanol plant is expected to come by Q4 2010 but he did not disclose the plant’s output capacity or the investment.
Bangchak was originally planning to establish the ethanol plants itself but this was discarded as the firm has no experience in ethanol production.
The company would initially sell E20 petrol from 300 service stations before increasing this to 500 by 2012. In addition Bangchak will offer E85 petrol from 50 service stations in 2012.
The company currently sells 95-octane petrol but plans to stop doing so by 2012 as ethanol demand for transportation fuel is expected to increase from 200,000 barrels per day in 2009 to 400,000 barrels per day.
According to Bangchak’s president Anusorn Sangnimnuan, the acquisition of the first ethanol plant is expected to come by Q4 2010 but he did not disclose the plant’s output capacity or the investment.
Bangchak was originally planning to establish the ethanol plants itself but this was discarded as the firm has no experience in ethanol production.
The company would initially sell E20 petrol from 300 service stations before increasing this to 500 by 2012. In addition Bangchak will offer E85 petrol from 50 service stations in 2012.
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