Benefuel and Felda JV Acquires the 75 MMgy Malaysian Biodiesel Plant
September 3, 2014http://www.biodieselmagazine.com/articles/167841/benefuel-felda-jv-to-retrofit-75-mmgy-malaysian-biodiesel-plant
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A new ownership and biodiesel process technology are planned for the 75 MMgy Mission NewEnergy plant in Kuantan Port, Malaysia.
The Benefuel International Holdings S.A.R.L., a subsidiary of Felda Global Ventures Sdn. Bhd., the world's largest crude palm oil producer, agreed to a joint venture and will acquire the facility for Benefuel's Ensel solid catalyst technology. The current owner of the plant, M2 Capital Sdn. Bhd., is also included in the venture. The deal is expected to close in late 2014, and the plant is expected to be operational in 2015.
"We are excited to team up with FGV and Mission NewEnergy to acquire and operate the Kuantan Port plant," said Rob Tripp, the CEO of Benefuel. The facility is on a deep water port and logistically advantaged to serve both the domestic and international markets.
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