Indian Biomax Fuels creates biofuel JV in Saudi Arabia - report

Dec 10, 2012 - India-based biofuel producer Biomax Fuels has founded a 50:50 joint venture with a Saudi Arabia firm for the development of the first biofuel project in Saudi Arabia, The Hindu Business Line reported on Saturday.

Biomax Fuels, together with its partner Middle East Environment Protection Co, is to build a biofuel plant worth USD 40 million (EUR 31m) that is due to be commissioned by the end of next year. The facility will produce biodiesel from used cooking oil using Biomax's in-house technology.

Biomax Fuels has another plant in the city of Visakhapatnam, Andhra Pradesh, which has a monthly output of 25,000 tonnes of biodiesel that is exported to Europe. Middle East Environment Protection is involved in waste management, real estate and healthcare and supplies Biomax Fuels with raw material.

The companies will look at building similar plants in western Asia and North Africa, Bader Bin Abdullah Bin Saud, chairman of Middle East Environment Protection, was quoted as saying.

(USD 1.0 = EUR 0.775)

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