Two new biodiesel plants will be set up in Malaysia, one a RM74 million ringgit plant in Sabah and the other costing RM24 million, through partnerships between a US firm and local companies.
The RM74 million ringgit plant to be built by IJM Biofuel Sdn Bhd is a 60:40 joint venture between IJM Plantations Bhd and CTI Biofuels Malaysia, a 95% owned subsidiary of US-based company Capital Technologies Incorporated. It will be built in Sandakan, Sabah. It is expected to produce 90,000 tonnes of biodiesel per annum by Q1 2007.
The other plant is to be built by Boustead CGI Biofuels Sdn Bhd, a 55:45 joint venture between local conglomerate Boustead Holdings Bhd and Capital Technologies Incorporated (same as above). The RM24 million plant is expected to produce 5 million gallons of biodiesel a year.
Apparently 1.5 million tonnes = 450 million gallons.