South African firm plans biodiesel plant
South African biodiesel production company First In Spec BioDiesel is planning to build a R250-million (€20 million) biodiesel plant that would convert waste vegetable oil into biodiesel.
The company is planning to build a plant to produce 50 million litres a year of biodiesel.
The company has already signed letters of intent for about 15 million litres a year of feedstock from companies abroad, as it would be cheaper to import the feedstock from foreign countries.
The plant would require 3-4 million litres of feedstock a month to process into biodiesel.
The company could bring R50million in equity to the table and is looking to acquire funding for the rest of the project costs.
If biofuels project developers have a feasible plan, they stand a good chance of obtaining funding, even in economically difficult times, the company says. Bringing in more parties to share the debt would also likely make it easier to obtain financing, it adds.
The company is planning to build a plant to produce 50 million litres a year of biodiesel.
The company has already signed letters of intent for about 15 million litres a year of feedstock from companies abroad, as it would be cheaper to import the feedstock from foreign countries.
The plant would require 3-4 million litres of feedstock a month to process into biodiesel.
The company could bring R50million in equity to the table and is looking to acquire funding for the rest of the project costs.
If biofuels project developers have a feasible plan, they stand a good chance of obtaining funding, even in economically difficult times, the company says. Bringing in more parties to share the debt would also likely make it easier to obtain financing, it adds.
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