Spain’s Coener Plans to Build 60 Mln Euro Biofuel Plant in Bulgaria – Govt Official

SOFIA (Bulgaria), February 8 (SeeNews) – Spainish group Coener Systems plans to build an over 60 million euro ($86.9 million) biofuel plant near Pleven in north Bulgaria, local authorities said on Friday.

Coener System will invest some 30 million euro in the plant and is in talks with local and foreign banks for the remainder of the funding, the Pleven regional governor said in a statement posted on his website.

The Spanish investor plans to launch the plant in 2009. Its output will be sold on the domestic market, as well as in Austria, Germany, Romania and Serbia.

Officials of neither the local authorities not the Spanish company were immediately available to comment.

Coener, together with Tecymed, a company of Spanish construction group Cyes, has also shown interest in taking part in projects for the upgrade of water and sewage infrastructure in Pleven, the statement added without providing details.

The government in Bulgaria, which joined the European Union in January 2007, has projected that the country's consumption of biofuel will gradually increase to 44,000 tonnes in 2008, 133,000 tonnes in 2010 and 314,000 tonnes in 2020.

Local companies Eko Petroleum, Papas Oil, Biodreams, Bulmarket, Kristera and Profex Bioproducts, Spain’s Green Fuel Corporacion and other foreign investors have announced plans to build biodiesel plants in Bulgaria.

($=0.69 euro)

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