Poland's KSC eyes biofuels and bioenergy production
Krajowa Spolka Cukrowa (KSC), Poland's biggest sugar producer, announced plans to turn two of its closed sugar factories into plants producing biofuels and bioenergy by end of 2011.
The estimated costs of the project are 110 million zlotys (€24.7 million) for the sugar plant in Wozuczyn and 162 million zlotys for the Lapy plant.
The state-owned company is watching the example of its peers in Western Europe, looking to invest in bioenergy and biofuels production to help turn the sugar factories into agro-energy centres.
Maintaining the already closed sugar factories is a considerable financial burden for KSC, who own 39% of the sugar market in Poland.
Poland's largest energy producer Polska Grupa Energetyczna (PGE) has agreed to partner KSC in the project.
The partners count on subsidies to finance between 30 and 40% of the entire project, with the remaining costs covered by bank loans and the companies’ own funds.
KSC and PGE expect to sign a final investment agreement with the contractor by the end of December 2009.
The estimated costs of the project are 110 million zlotys (€24.7 million) for the sugar plant in Wozuczyn and 162 million zlotys for the Lapy plant.
The state-owned company is watching the example of its peers in Western Europe, looking to invest in bioenergy and biofuels production to help turn the sugar factories into agro-energy centres.
Maintaining the already closed sugar factories is a considerable financial burden for KSC, who own 39% of the sugar market in Poland.
Poland's largest energy producer Polska Grupa Energetyczna (PGE) has agreed to partner KSC in the project.
The partners count on subsidies to finance between 30 and 40% of the entire project, with the remaining costs covered by bank loans and the companies’ own funds.
KSC and PGE expect to sign a final investment agreement with the contractor by the end of December 2009.
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