Petrixo invests $800 million in UAE biofuels refinery

Petrixo Oil & Gas is on the cusp of spending $800 million (€600 million) on the creation of a biofuel refinery in Fujairah, UAE.

Preparation studies and engineering designs have all been completed, along with the selection of appropriate technologies for the resource, which will be located in the Emirates.

According to designs, the facility is capable of producing one million tonnes per year of biofuel products, which include biodiesel, green fiesel, bio-jet, bio-naphtha and bio-LPG.

With a 460,000m2 area of land to build upon, Petrixo has sought the help of a number of financial institutions and large global companies to support the project, which is aimed at producing biofuel for the international and Gulf marketplace.