FGV set to triple biodiesel production by 2016

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) aims to be the world’s leader in biodiesel by tripling its production capacity to 350,000 tonnes a year by 2016.

The country’s largest biodiesel exporter will spend US$47.5 million (RM165.3 million) on its expansion plans at its Kuantan biodiesel plant.

This, according to its group president and chief executive officer, Datuk Mohd Emir Mavani Abdullah, will increase FGV’s output of palm methyl ester (PME) to 350,000 tonnes by 2016 from the current 100,000 tonnes annually.

The B30 blend comprises 30 per cent of palm oil-based methyl ester (PME) and 70 per cent diesel fuel.