China Integrated Energy expands biodiesel
China Integrated Energy plans to expand its current biodiesel production capacity from 100,000 tonnes to 200,000 tonnes.
The company will bring a new 50,000-tonne biodiesel production facility in Tongchuan City online by the end of Q3 and completing an acquisition for 50,000 tonnes of biodiesel production capacity, which is anticipated to close before September end.
The company anticipates spending approximately $31.5 million (€23.75 million) in capital expenditures to accomplish this goal. China Integrated Energy has secured adequate raw materials to accommodate this new capacity, including new feedstocks, and will continue to work towards securing more long-term sources of raw materials.
The company has experienced sales volume of biodiesel for Q2 2010 totalling 22,500 tonnes, an increase of 29.3% compared to the same period of 2009 and a sequential increase of 22.5% from Q1 2010.
The average selling price of biodiesel increased approximately 21.3% from the same period in 2009, which was in line with the price of diesel.
‘The company's biodiesel sales increased 56.8% for the second quarter of 2010, compared to the second quarter of 2009, driven by growth in both volume and pricing,’ states Gao Xincheng, CEO of China Integrated Energy.
During the second quarter of 2010 production and sale of biodiesel was approximately 30.1%, and operation of retail gas stations was approximately 12.9%, versus 11.5%, 29.4%, and 10.4%, respectively, compared to the same period of 2009.
The company will bring a new 50,000-tonne biodiesel production facility in Tongchuan City online by the end of Q3 and completing an acquisition for 50,000 tonnes of biodiesel production capacity, which is anticipated to close before September end.
The company anticipates spending approximately $31.5 million (€23.75 million) in capital expenditures to accomplish this goal. China Integrated Energy has secured adequate raw materials to accommodate this new capacity, including new feedstocks, and will continue to work towards securing more long-term sources of raw materials.
The company has experienced sales volume of biodiesel for Q2 2010 totalling 22,500 tonnes, an increase of 29.3% compared to the same period of 2009 and a sequential increase of 22.5% from Q1 2010.
The average selling price of biodiesel increased approximately 21.3% from the same period in 2009, which was in line with the price of diesel.
‘The company's biodiesel sales increased 56.8% for the second quarter of 2010, compared to the second quarter of 2009, driven by growth in both volume and pricing,’ states Gao Xincheng, CEO of China Integrated Energy.
During the second quarter of 2010 production and sale of biodiesel was approximately 30.1%, and operation of retail gas stations was approximately 12.9%, versus 11.5%, 29.4%, and 10.4%, respectively, compared to the same period of 2009.
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